|
Report No. : |
325822 |
|
Report Date : |
06.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
FOCUS GARMENT TECH PTE. LTD. |
|
|
|
|
Registered Office : |
1, Toh Tuck Link, 03-00, 596222 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
03.02.2001 |
|
|
|
|
Com. Reg. No.: |
200100704-G |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is engaged in wholesale of industrial machinery and equipment |
|
|
|
|
No. of Employee : |
5 [2015] |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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. |
: |
200100704-G |
|
COMPANY NAME |
: |
FOCUS GARMENT TECH PTE. LTD. |
|
FORMER NAME |
: |
FOCUSED FACTORY PTE LTD (13/08/2007) |
|
INCORPORATION DATE |
: |
03/02/2001 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
1, TOH TUCK LINK, 03-00, 596222, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
1, TOH TUCK LINK, 03-00, 596222, SINGAPORE. |
|
TEL.NO. |
: |
65-63382256 |
|
FAX.NO. |
: |
65-63394976 |
|
WEB SITE |
: |
WWW.FOCUS-GMT-TECH.COM |
|
CONTACT PERSON |
: |
NG AI KWAN ( MANAGING DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
WHOLESALE OF INDUSTRIAL MACHINERY AND EQUIPMENT |
|
ISSUED AND PAID UP CAPITAL |
: |
1,000,000.00 ORDINARY SHARE, OF A VALUE OF SGD 1,000,000.00 |
|
SALES |
: |
SGD 13,990,943 [2013] |
|
NET WORTH |
: |
SGD 994,383 [2013] |
|
STAFF STRENGTH |
: |
5 [2015] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STABLE |
|
PAYMENT |
: |
AVERAGE |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
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 industrial machinery and equipment.
The immediate holding company of the Subject is CHU CHEONG COMPANY PRIVATE LIMITED, a company incorporated in SINGAPORE.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
04/06/2015 |
SGD 1,000,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
CHU CHEONG COMPANY PRIVATE LIMITED |
1, TOH TUCK LINK, 03-00, 596222, SINGAPORE. |
196100016H |
1,000,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
1,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. NG AI KWAN |
|
Address |
: |
32, BERRIMA ROAD, DUNEARN ESTATE, 299912, SINGAPORE. |
|
IC / PP No |
: |
S0123668G |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
16/05/2001 |
DIRECTOR 2
|
Name Of Subject |
: |
NG GHIT CHEONG |
|
Address |
: |
22, BALMORAL PARK, 259851, SINGAPORE. |
|
IC / PP No |
: |
S0691989H |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
16/05/2001 |
DIRECTOR 3
|
Name Of Subject |
: |
NG HUI CHUEN |
|
Address |
: |
30, CHENG SOON GARDEN, CHENG SOON GARDEN, 599806, SINGAPORE. |
|
IC / PP No |
: |
S1207899D |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
16/05/2001 |
DIRECTOR 4
|
Name Of Subject |
: |
FOO TOON POW |
|
Address |
: |
313, ANG MO KIO AVENUE, 3, 08-2308, 560313, SINGAPORE. |
|
IC / PP No |
: |
S1564665I |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
01/08/2011 |
DIRECTOR 5
|
Name Of Subject |
: |
NG BOON POH @ HUANG WENPU |
|
Address |
: |
30, CHENG SOON GARDEN, CHENG SOON GARDEN, 599806, SINGAPORE. |
|
IC / PP No |
: |
S7534032Z |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
16/06/2004 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
NG AI KWAN |
|
Position |
: |
MANAGING DIRECTOR |
|
|
|
AUDITOR
|
|
Auditor |
: |
JEE AH CHIAN & COMPANY |
|
Auditor' Address |
: |
N/A |
|
|
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
CHIU YEE LENG |
|
IC / PP No |
: |
S7726821I |
|
|
Address |
: |
30, CHENG SOON GARDEN, CHENG SOON GARDEN, 599806, SINGAPORE. |
|
|
2) |
Company Secretary |
: |
KOH AI PENG |
|
IC / PP No |
: |
S1593569C |
|
|
Address |
: |
6, TOH YI DRIVE, 08-243, 590006, 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 |
: |
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 |
[ |
X |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|||||
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
|
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2015 |
2014 |
2013 |
||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
5 |
5 |
5 |
||||||
|
Branch |
: |
|
Other Information:
The Subject is principally engaged in the (as a / as an) wholesale of
industrial machinery and equipment.
The Subject trades machines and equipments related to garment such as sewing
machines, washer series, thread suction and so on.
CURRENT INVESTIGATION
|
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-63382256 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
1 TOH TUCK LINK #03-00,SINGAPORE-596222 |
|
Current Address |
: |
1, TOH TUCK LINK, 03-00, 596222, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
On 4th June 2015 we contacted one of the staff from the Subject and she
provided some information.
|
FINANCIAL ANALYSIS |
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2011 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2011 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
25.02% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
25.77% |
] |
|
|
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. The Subject's management had generated acceptable
return for its shareholders using its assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Acceptable |
[ |
56 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
46 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
48 Days |
] |
|
|
The Subject kept adequate stocks to meet its normal business
transactions without incurring excessive storage costs. The favourable
debtors' days could be due to the good credit control measures implemented by
the Subject. The Subject had a favourable creditors' ratio where the Subject
could be taking advantage of the cash discounts and also wanting to maintain
goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Unfavourable |
[ |
0.69 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.26 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 |
: |
Nil |
[ |
0.00 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The Subject's interest cover was nil as it did not pay any interest
during the year. 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. The Subject did not make any interest payment during the
year. The Subject was dependent on its shareholders' funds to finance its business
needs. 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 : STABLE |
||||||
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. |
|
FOCUS
GARMENT TECH PTE. LTD. |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
|
Months |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
|
Currency |
SGD |
SGD |
SGD |
|
TURNOVER |
13,990,943 |
8,335,264 |
9,807,385 |
|
Other Income |
- |
- |
14,395 |
|
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
13,990,943 |
8,335,264 |
9,821,780 |
|
Costs of Goods Sold |
(12,227,325) |
(7,325,563) |
(8,622,045) |
|
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
1,763,618 |
1,009,701 |
1,199,735 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
256,233 |
13,293 |
201,960 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
256,233 |
13,293 |
201,960 |
|
Taxation |
(7,447) |
- |
- |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
248,786 |
13,293 |
201,960 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As previously reported |
(254,403) |
(267,696) |
(469,656) |
|
---------------- |
---------------- |
---------------- |
|
|
As restated |
(254,403) |
(267,696) |
(469,656) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(5,617) |
(254,403) |
(267,696) |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(5,617) |
(254,403) |
(267,696) |
|
============= |
============= |
============= |
|
BALANCE
SHEET
|
|
FOCUS
GARMENT TECH PTE. LTD. |
|
ASSETS EMPLOYED: |
|||
|
FIXED ASSETS |
2,349 |
2,852 |
4,317 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
2,349 |
2,852 |
4,317 |
|
Stocks |
2,155,805 |
1,636,863 |
2,089,438 |
|
Trade debtors |
1,753,031 |
1,062,895 |
1,413,546 |
|
Other debtors, deposits & prepayments |
215,631 |
354,560 |
70,647 |
|
Cash & bank balances |
675,693 |
507,957 |
458,890 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
4,800,160 |
3,562,275 |
4,032,521 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
4,802,509 |
3,565,127 |
4,036,838 |
|
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||
|
Trade creditors |
1,609,262 |
1,021,156 |
865,163 |
|
Other creditors & accruals |
32,557 |
72,213 |
97,018 |
|
Amounts owing to holding company |
2,158,860 |
1,726,161 |
2,342,353 |
|
Provision for taxation |
7,447 |
- |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
3,808,126 |
2,819,530 |
3,304,534 |
|
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
992,034 |
742,745 |
727,987 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
994,383 |
745,597 |
732,304 |
|
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||
|
Ordinary share capital |
1,000,000 |
1,000,000 |
1,000,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
1,000,000 |
1,000,000 |
1,000,000 |
|
Retained profit/(loss) carried forward |
(5,617) |
(254,403) |
(267,696) |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
(5,617) |
(254,403) |
(267,696) |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
994,383 |
745,597 |
732,304 |
|
---------------- |
---------------- |
---------------- |
|
|
994,383 |
745,597 |
732,304 |
|
|
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
|
FOCUS GARMENT
TECH PTE. LTD. |
|
TYPES OF FUNDS |
|||
|
Cash |
675,693 |
507,957 |
458,890 |
|
Net Liquid Funds |
675,693 |
507,957 |
458,890 |
|
Net Liquid Assets |
(1,163,771) |
(894,118) |
(1,361,451) |
|
Net Current Assets/(Liabilities) |
992,034 |
742,745 |
727,987 |
|
Net Tangible Assets |
994,383 |
745,597 |
732,304 |
|
Net Monetary Assets |
(1,163,771) |
(894,118) |
(1,361,451) |
|
BALANCE SHEET ITEMS |
|||
|
Total Borrowings |
0 |
0 |
0 |
|
Total Liabilities |
3,808,126 |
2,819,530 |
3,304,534 |
|
Total Assets |
4,802,509 |
3,565,127 |
4,036,838 |
|
Net Assets |
994,383 |
745,597 |
732,304 |
|
Net Assets Backing |
994,383 |
745,597 |
732,304 |
|
Shareholders' Funds |
994,383 |
745,597 |
732,304 |
|
Total Share Capital |
1,000,000 |
1,000,000 |
1,000,000 |
|
Total Reserves |
(5,617) |
(254,403) |
(267,696) |
|
LIQUIDITY (Times) |
|||
|
Cash Ratio |
0.18 |
0.18 |
0.14 |
|
Liquid Ratio |
0.69 |
0.68 |
0.59 |
|
Current Ratio |
1.26 |
1.26 |
1.22 |
|
WORKING CAPITAL CONTROL (Days) |
|||
|
Stock Ratio |
56 |
72 |
78 |
|
Debtors Ratio |
46 |
47 |
53 |
|
Creditors Ratio |
48 |
51 |
37 |
|
SOLVENCY RATIOS (Times) |
|||
|
Gearing Ratio |
0.00 |
0.00 |
0.00 |
|
Liabilities Ratio |
3.83 |
3.78 |
4.51 |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
0.00 |
|
Assets Backing Ratio |
0.99 |
0.75 |
0.73 |
|
PERFORMANCE RATIO (%) |
|||
|
Operating Profit Margin |
1.83 |
0.16 |
2.06 |
|
Net Profit Margin |
1.78 |
0.16 |
2.06 |
|
Return On Net Assets |
25.77 |
1.78 |
27.58 |
|
Return On Capital Employed |
25.77 |
1.78 |
27.58 |
|
Return On Shareholders' Funds/Equity |
25.02 |
1.78 |
27.58 |
|
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.63.90 |
|
|
1 |
Rs.97.98 |
|
Euro |
1 |
Rs.71.82 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.