|
Report No. : |
320870.2 |
|
Report Date : |
06.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
SOLVAY SPECIALTY CHEMICALS ASIA PACIFIC PTE.
LTD. |
|
|
|
|
Formerly Known As : |
RHODIA ASIA PACIFIC PTE. LTD. RHODIA CONSUMER SPECIALTIES ASIA PACIFIC PTE LTD ALBRIGHT & WILSON ASIA PACIFIC PTE LTD |
|
|
|
|
Registered Office : |
10, Collyer Quay, 10-01, Ocean Financial Centre, 049315 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Date of Incorporation : |
15.12.1984 |
|
|
|
|
Com. Reg. No.: |
198404307-W |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading of Chemicals. |
|
|
|
|
No. of Employees : |
140 [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 : |
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 |
|
REGISTRATION
NO. |
: |
198404307-W |
|
COMPANY
NAME |
: |
SOLVAY
SPECIALTY CHEMICALS ASIA PACIFIC PTE. LTD. |
|
FORMER
NAME |
: |
RHODIA
ASIA PACIFIC PTE. LTD. (11/10/2013) |
|
INCORPORATION
DATE |
: |
15/12/1984 |
|
COMPANY
STATUS |
: |
EXIST |
|
LEGAL
FORM |
: |
PRIVATE
LIMITED |
|
LISTED
STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
10,
COLLYER QUAY, 10-01, OCEAN FINANCIAL CENTRE, 049315, SINGAPORE. |
|
BUSINESS
ADDRESS |
: |
1
BIOPOLIS DRIVE #05-01/06, AMNIOS, 138622, SINGAPORE. |
|
TEL.NO. |
: |
65-64388886 |
|
FAX.NO. |
: |
65-64388222 |
|
CONTACT
PERSON |
: |
IAN
EDWARD BROWN ( DIRECTOR ) |
|
PRINCIPAL
ACTIVITY |
: |
TRADING
OF CHEMICALS |
|
ISSUED
AND PAID UP CAPITAL |
: |
120,000.00
ORDINARY SHARE, OF A VALUE OF SGD 12,000,000.00 |
|
SALES |
: |
SGD
359,830,069 [2012] |
|
NET
WORTH |
: |
SGD
44,857,695 [2012] |
|
STAFF
STRENGTH |
: |
140
[2015] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL
CONDITION |
: |
N/A |
|
PAYMENT |
: |
N/A |
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL
RISK |
: |
N/A |
|
CURRENCY
EXPOSURE |
: |
N/A |
|
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) trading of chemicals.
The immediate holding company of the Subject
is RHODIA INTERNATIONAL HOLDINGS B.V., a company incorporated in NETHERLANDS.
The ultimate holding company of the Subject is
SOLVAY S. A., a company incorporated in BELGIUM.
The intermediate holding company of the
Subject is RHODIA S. A., a company incorporated in FRANCE.
Share
Capital History
|
Date |
Issue
& Paid Up Capital |
|
04/06/2015 |
SGD
12,000,000.00 |
The
major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
RHODIA
INTERNATIONAL HOLDINGS B.V. |
NASSAULAAN
13, 2514, JS DEN HAAG, NETHERLANDS. |
S75UF0131 |
120,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
120,000.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
DIRECTORS
|
DIRECTOR
1
|
Name
Of Subject |
: |
JEAN-PIERRE
LUC CLAMADIEU |
|
Address |
: |
CHAUSSEE
DE CHARLEROI N82, BRUXELLES, 1060, BELGIUM. |
|
IC
/ PP No |
: |
13FV09864 |
|
Nationality |
: |
FRENCH |
|
Date
of Appointment |
: |
30/11/2014 |
DIRECTOR
2
|
Name
Of Subject |
: |
YBERT
MICHEL BERNARD MAURICE |
|
Address |
: |
K01,
XIJIAO GUEST VILLA, 1919, HONGQIAO ROAD, SHANGHAI, 200336, CHINA. |
|
IC
/ PP No |
: |
S2738480C |
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
01/12/2003 |
DIRECTOR
3
|
Name
Of Subject |
: |
SEK
FONG PENG HAZEL |
|
Address |
: |
2,
FLORA DRIVE, 05-31, CARISSA PARK CONDOMINIUM, 507025, SINGAPORE. |
|
IC
/ PP No |
: |
S7028190B |
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
30/11/2014 |
DIRECTOR
4
|
Name
Of Subject |
: |
IAN
EDWARD BROWN |
|
Address |
: |
247C,
PASIR PANJANG ROAD, CHU VILLE, 118607, SINGAPORE. |
|
IC
/ PP No |
: |
G6122395P |
|
Nationality |
: |
BRITISH |
|
Date
of Appointment |
: |
08/05/2009 |
DIRECTOR
5
|
Name
Of Subject |
: |
VINCENT
PAUL JEAN MARIE DE CUYPER |
|
Address |
: |
HULSTPOELLAAN,
15-3080, TERVUREN, BELGIUM. |
|
IC
/ PP No |
: |
EJ492164 |
|
Nationality |
: |
BELGIAN |
|
Date
of Appointment |
: |
30/11/2014 |
DIRECTOR
6
|
Name
Of Subject |
: |
PIERRE-FRANCK
MARIE YVES VALENTIN |
|
Address |
: |
62,
TREVOSE CRESCENT, 02-01, TREVOSE PARK, 298063, SINGAPORE. |
|
IC
/ PP No |
: |
G5954151Q |
|
Nationality |
: |
FRENCH |
|
Date
of Appointment |
: |
30/11/2014 |
|
1)
|
Name
of Subject |
: |
IAN
EDWARD BROWN |
|
Position |
: |
DIRECTOR |
AUDITOR
|
|
Auditor |
: |
DELOITTE
& TOUCHE LLP |
|
Auditor'
Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1)
|
Company
Secretary |
: |
KWANG
YEIT LAM |
|
IC
/ PP No |
: |
S1426198B |
|
|
Address |
: |
869,
TAMPINES STREET 83, 12-179, 520869, 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 Subject refused to disclose its suppliers.
CLIENTELE
|
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its clientele.
OPERATIONS
|
|
Goods
Traded |
: |
CHEMICALS |
|
|
Total
Number of Employees: |
|||||||||
|
YEAR |
2015 |
2014 |
|||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
140 |
140 |
|||||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) trading of chemicals.
The Subject refused to disclose its operation.
CURRENT
INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-64388886 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
05-01/06,
AMINOS, SINGAPORE – 138622 |
|
Current
Address |
: |
1
BIOPOLIS DRIVE #05-01/06, AMNIOS, 138622, SINGAPORE. |
|
Match |
: |
NO |
|
|
||
Other
Investigations
We contacted one of the staff from the Subject and she provided limited
information.
The address provided is incomplete.
FINANCIAL
ANALYSIS
|
|
The
Subject's latest financial accounts are up to 2012 which is out dated in our
opinion. Therefore, our comment on the Subject financial performance is
restricted thereto. |
||||||
|
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
: |
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
|
|
Incorporated
in 1984, the Subject is a Private Limited company, focusing on trading of chemicals.
The Subject has been in business for over two decades. It has built up a
strong clientele base and satisfactory reputation will enable the Subject to
further enhance its business in the near term. The Subject is expected to
enjoy a stable market shares. The Subject is a large entity with strong
capital position of SGD 12,000,000. We are confident with the Subject's
business and its future growth prospect. Having strong support from its
shareholder has enabled the Subject to remain competitive despite the
challenging business environment. |
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
SOLVAY
SPECIALTY CHEMICALS ASIA PACIFIC PTE. LTD. |
|
Financial
Year End |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
|
Months |
12 |
12 |
12 |
12 |
|
Consolidated
Account |
Company |
Company |
Company |
Company |
|
Audited
Account |
YES |
YES |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
|
Financial
Type |
FULL |
FULL |
SUMMARY |
SUMMARY |
|
Currency |
SGD |
SGD |
SGD |
SGD |
|
TURNOVER |
359,830,069 |
323,656,100 |
332,075,297 |
226,218,065 |
|
Other
Income |
232,047 |
601,363 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
360,062,116 |
324,257,463 |
332,075,297 |
226,218,065 |
|
Costs
of Goods Sold |
(286,042,988) |
(253,227,276) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
74,019,128 |
71,030,187 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
2,869,606 |
8,042,332 |
10,259,525 |
4,239,910 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
2,869,606 |
8,042,332 |
10,259,525 |
4,239,910 |
|
Taxation |
(350,577) |
(1,573,040) |
(1,974,756) |
(1,255,189) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
2,519,029 |
6,469,292 |
8,284,769 |
2,984,721 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
||||
|
As
previously reported |
30,338,666 |
23,869,374 |
15,584,605 |
12,599,884 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
30,338,666 |
23,869,374 |
15,584,605 |
12,599,884 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
32,857,695 |
30,338,666 |
23,869,374 |
15,584,605 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
32,857,695 |
30,338,666 |
23,869,374 |
15,584,605 |
|
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
||||
|
Others |
90,007 |
311,179 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
90,007 |
311,179 |
- |
- |
|
|
============= |
============= |
- |
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
BALANCE
SHEET
|
|
SOLVAY
SPECIALTY CHEMICALS ASIA PACIFIC PTE. LTD. |
|
ASSETS
EMPLOYED: |
||||
|
FIXED
ASSETS |
1,325,928 |
1,432,462 |
1,492,884 |
1,902,910 |
|
Others |
497,852 |
541,144 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
INTANGIBLE ASSETS |
497,852 |
541,144 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
1,823,780 |
1,973,606 |
1,492,884 |
1,902,910 |
|
Stocks |
8,524,350 |
10,641,345 |
- |
- |
|
Trade
debtors |
35,629,331 |
36,509,461 |
- |
- |
|
Other
debtors, deposits & prepayments |
1,698,652 |
1,517,000 |
- |
- |
|
Amount
due from holding company |
41,349,102 |
35,243,064 |
- |
- |
|
Amount
due from related companies |
34,247,836 |
30,001,670 |
- |
- |
|
Cash
& bank balances |
3,834,539 |
6,680,000 |
- |
- |
|
Others |
43,416 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
125,327,226 |
120,592,540 |
112,178,125 |
96,981,698 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
127,151,006 |
122,566,146 |
113,671,009 |
98,884,608 |
|
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
||||
|
Trade
creditors |
8,547,758 |
4,655,302 |
- |
- |
|
Other
creditors & accruals |
13,001,414 |
9,756,169 |
- |
- |
|
Short
term borrowings/Term loans |
- |
10,395,705 |
- |
- |
|
Amounts
owing to related companies |
59,725,770 |
51,986,436 |
- |
- |
|
Provision
for taxation |
815,369 |
2,362,591 |
- |
- |
|
Other
liabilities |
- |
658,898 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
82,090,311 |
79,815,101 |
77,417,961 |
70,939,153 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
43,236,915 |
40,777,439 |
34,760,164 |
26,042,545 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
45,060,695 |
42,751,045 |
36,253,048 |
27,945,455 |
|
============= |
============= |
============= |
============= |
|
|
SHARE
CAPITAL |
||||
|
Ordinary
share capital |
12,000,000 |
12,000,000 |
12,000,000 |
12,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
12,000,000 |
12,000,000 |
12,000,000 |
12,000,000 |
|
Retained
profit/(loss) carried forward |
32,857,695 |
30,338,666 |
23,869,374 |
15,584,605 |
|
Others |
- |
- |
0 |
0 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
32,857,695 |
30,338,666 |
23,869,374 |
15,584,605 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
44,857,695 |
42,338,666 |
35,869,374 |
27,584,605 |
|
Deferred
taxation |
83,000 |
292,379 |
- |
- |
|
Others |
120,000 |
120,000 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
203,000 |
412,379 |
383,674 |
360,850 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
45,060,695 |
42,751,045 |
36,253,048 |
27,945,455 |
|
|
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL
RATIO
|
|
SOLVAY
SPECIALTY CHEMICALS ASIA PACIFIC PTE. LTD. |
|
TYPES
OF FUNDS |
||||
|
Cash |
3,834,539 |
6,680,000 |
- |
- |
|
Net
Liquid Funds |
3,834,539 |
6,680,000 |
- |
- |
|
Net
Liquid Assets |
34,712,565 |
30,136,094 |
34,760,164 |
26,042,545 |
|
Net
Current Assets/(Liabilities) |
43,236,915 |
40,777,439 |
34,760,164 |
26,042,545 |
|
Net
Tangible Assets |
44,562,843 |
42,209,901 |
36,253,048 |
27,945,455 |
|
Net
Monetary Assets |
34,509,565 |
29,723,715 |
34,376,490 |
25,681,695 |
|
BALANCE
SHEET ITEMS |
||||
|
Total
Borrowings |
0 |
10,395,705 |
- |
- |
|
Total
Liabilities |
82,293,311 |
80,227,480 |
77,801,635 |
71,300,003 |
|
Total
Assets |
127,151,006 |
122,566,146 |
113,671,009 |
98,884,608 |
|
Net
Assets |
45,060,695 |
42,751,045 |
36,253,048 |
27,945,455 |
|
Net
Assets Backing |
44,857,695 |
42,338,666 |
35,869,374 |
27,584,605 |
|
Shareholders'
Funds |
44,857,695 |
42,338,666 |
35,869,374 |
27,584,605 |
|
Total
Share Capital |
12,000,000 |
12,000,000 |
12,000,000 |
12,000,000 |
|
Total
Reserves |
32,857,695 |
30,338,666 |
23,869,374 |
15,584,605 |
|
LIQUIDITY
(Times) |
||||
|
Cash
Ratio |
0.05 |
0.08 |
- |
- |
|
Liquid
Ratio |
1.42 |
1.38 |
- |
- |
|
Current
Ratio |
1.53 |
1.51 |
1.45 |
1.37 |
|
WORKING
CAPITAL CONTROL (Days) |
||||
|
Stock
Ratio |
9 |
12 |
- |
- |
|
Debtors
Ratio |
36 |
41 |
- |
- |
|
Creditors
Ratio |
11 |
7 |
- |
- |
|
SOLVENCY
RATIOS (Times) |
||||
|
Gearing
Ratio |
0.00 |
0.25 |
- |
- |
|
Liabilities
Ratio |
1.83 |
1.89 |
2.17 |
2.58 |
|
Times
Interest Earned Ratio |
32.88 |
26.84 |
- |
- |
|
Assets
Backing Ratio |
3.71 |
3.52 |
3.02 |
2.33 |
|
PERFORMANCE
RATIO (%) |
||||
|
Operating
Profit Margin |
0.80 |
2.48 |
3.09 |
1.87 |
|
Net
Profit Margin |
0.70 |
2.00 |
2.49 |
1.32 |
|
Return
On Net Assets |
6.57 |
19.54 |
28.30 |
15.17 |
|
Return
On Capital Employed |
6.50 |
19.30 |
28.30 |
15.17 |
|
Return
On Shareholders' Funds/Equity |
5.62 |
15.28 |
23.10 |
10.82 |
|
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.63.90 |
|
|
1 |
Rs.97.98 |
|
Euro |
1 |
Rs.71.82 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.