|
Report No. : |
325824 |
|
Report Date : |
09.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
INDIA CREDIT PTE. LTD. |
|
|
|
|
Registered Office : |
4, Battery Road, 34-01, Bank Of China Building, 049908 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
06.03.2013 |
|
|
|
|
Com. Reg. No.: |
201305807-H |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Investment Holding |
|
|
|
|
No. of Employee : |
Not Available |
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. 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. |
: |
201305807-H |
|
COMPANY NAME |
: |
INDIA CREDIT PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
06/03/2013 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
4, BATTERY ROAD, 34-01, BANK OF CHINA BUILDING, 049908, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
4, BATTERY ROAD, 34-01, BANK OF CHINA BUILDING, 049908, SINGAPORE. |
|
TEL.NO. |
: |
65-68279250 |
|
FAX.NO. |
: |
65-68279268 |
|
CONTACT PERSON |
: |
ROBERT DEAN PETTY ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
INVESTMENT HOLDING |
|
ISSUED AND PAID UP CAPITAL |
: |
161,272,913.00 ORDINARY SHARE, OF A VALUE OF USD 178,353,011.07 |
|
SALES |
: |
SGD 1,294,898 [2013] |
|
NET WORTH |
: |
SGD 46,841,220 [2013] |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
FAIR |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
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) investment holding.
Share Capital
History
|
Date |
Issue & Paid
Up Capital |
|
04/06/2015 |
USD
178,353,012.07 |
The major
shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
INDIA CREDIT
HOLDINGS PTE. LTD. |
4, BATTERY ROAD,
34-01, BANK OF CHINA BUILDING, 049908, SINGAPORE. |
201219245K |
101,006,755.00 |
62.63 |
|
AL MEHWAR COMMERCIAL
INVESTMENTS L.L.C. |
AL BAHR TWRS,
SHEIKH ZAYED BIN SULTAN ST, PO BOX 61999, (INTERSECTION WITH SHAKHBOUT BIN
SULTAN ST-19TH ST) AD, UNITED ARAB EMIRATES. |
T15UF0514 |
36,525,550.00 |
22.65 |
|
PAVONINA PTE.
LTD. |
50, COLLYER QUAY,
09-01, OUE BAYFRONT, 049321, SINGAPORE. |
201414791H |
23,741,608.00 |
14.72 |
|
--------------- |
------ |
|||
|
161,273,913.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
ROBERT DEAN
PETTY |
|
Address |
: |
FLAT A, 3/F, HAU
YUEN, 51, SHOUSON HILL ROAD, SHOUSON HILL, HONG KONG. |
|
IC / PP No |
: |
422317258 |
|
Nationality |
: |
AMERICAN |
|
Date of
Appointment |
: |
08/03/2013 |
DIRECTOR 2
|
Name Of Subject |
: |
CHIANG YAO CHYE |
|
Address |
: |
63, BOURNEMOUTH
ROAD, 439705, SINGAPORE. |
|
IC / PP No |
: |
S1695017C |
|
Nationality |
: |
SINGAPOREAN |
|
Date of
Appointment |
: |
06/03/2013 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
ROBERT DEAN
PETTY |
|
Position |
: |
DIRECTOR |
|
|
|
AUDITOR
|
|
Auditor |
: |
ERNST &
YOUNG LLP |
|
Auditor' Address |
: |
N/A |
|
|
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
CHAN CHOW PHENG |
|
IC / PP No |
: |
S1298885J |
|
|
Address |
: |
59, TELOK
BLANGAH HEIGHTS, 04-11, 100059, SINGAPORE. |
|
|
2) |
Company
Secretary |
: |
CHANG SOW KUEN |
|
IC / PP No |
: |
S1365694J |
|
|
Address |
: |
130, GEYLANG
EAST AVENUE 1, 02-299, 380130, 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 is a service provider.
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 |
[ |
X |
] |
Poor >120
Days |
[ |
] |
||||||||
CLIENTELE
|
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its clientele.
OPERATIONS
|
|
Services |
: |
|
|
|
Branch |
: |
|
Other Information:
The Subject is principally engaged in the (as a / as an) investment holding.
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 |
: |
65-68279250 |
|
Match |
: |
N/A |
|
Address Provided
by Client |
: |
4 BATTERY ROAD, #34-01
BANK OF CHINA BUILDING SINGAPORE 049908 |
|
Current Address |
: |
4, BATTERY ROAD,
34-01, BANK OF CHINA BUILDING, 049908, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
On 4th June 2015 we contacted one of the staff from the Subject and he only
provided limited information.
The Subject refused to disclose its number of employees and bankers.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Return on Shareholder
Funds |
: |
Acceptable |
[ |
10.70% |
] |
|
|
Return on Net
Assets |
: |
Acceptable |
[ |
10.70% |
] |
|
|
The Subject's
management had generated acceptable return for its shareholders using its
assets. |
||||||
|
Working
Capital Control |
||||||
|
Stock Ratio |
: |
Nil |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
As the Subject is
a service oriented company, the Subject does not need to keep stocks. 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 |
: |
Acceptable |
[ |
0.89 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.89 Times |
] |
|
|
The Subject's
liquid ratio was slightly low. This could indicate that the Subject's working
capital was slightly deficient. The Subject will have to improve its
liquidity position either by obtaining short term financing or increase its
paid up capital so that it can meet all its short term obligations as and
when they fall due. |
||||||
|
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 : |
||||||
|
The Subject's liquidity
was at an acceptable range. If the Subject is able to obtain further short
term financing, it should be able to meet all its short term obligations. 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 : FAIR |
||||||
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. |
|
INDIA
CREDIT PTE. LTD. |
|
Financial Year End |
2013-12-31 |
|
Months |
12 |
|
Consolidated Account |
Company |
|
Audited Account |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
|
Financial Type |
FULL |
|
Currency |
SGD |
|
TURNOVER |
1,294,898 |
|
---------------- |
|
|
Total Turnover |
1,294,898 |
|
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
5,011,468 |
|
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
5,011,468 |
|
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
5,011,468 |
|
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
5,011,468 |
|
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
5,011,468 |
|
============= |
|
BALANCE
SHEET
|
|
INDIA
CREDIT PTE. LTD. |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|
|
Subsidiary companies |
48,806,746 |
|
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
48,806,746 |
|
---------------- |
|
|
TOTAL LONG TERM ASSETS |
48,806,746 |
|
Amount due from related companies |
2,124,931 |
|
Cash & bank balances |
13,200,820 |
|
---------------- |
|
|
TOTAL CURRENT ASSETS |
15,325,751 |
|
---------------- |
|
|
TOTAL ASSET |
64,132,497 |
|
============= |
|
|
Other creditors & accruals |
54,302 |
|
Amounts owing to related companies |
14,592,649 |
|
Other liabilities |
2,644,326 |
|
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
17,291,277 |
|
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
(1,965,526) |
|
---------------- |
|
|
TOTAL NET ASSETS |
46,841,220 |
|
============= |
|
|
SHARE CAPITAL |
|
|
Ordinary share capital |
41,829,752 |
|
---------------- |
|
|
TOTAL SHARE CAPITAL |
41,829,752 |
|
Retained profit/(loss) carried forward |
5,011,468 |
|
---------------- |
|
|
TOTAL RESERVES |
5,011,468 |
|
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
46,841,220 |
|
---------------- |
|
|
46,841,220 |
|
|
============= |
|
FINANCIAL
RATIO
|
|
INDIA
CREDIT PTE. LTD. |
|
TYPES OF FUNDS |
|
|
Cash |
13,200,820 |
|
Net Liquid Funds |
13,200,820 |
|
Net Liquid Assets |
(1,965,526) |
|
Net Current Assets/(Liabilities) |
(1,965,526) |
|
Net Tangible Assets |
46,841,220 |
|
Net Monetary Assets |
(1,965,526) |
|
BALANCE SHEET ITEMS |
|
|
Total Borrowings |
0 |
|
Total Liabilities |
17,291,277 |
|
Total Assets |
64,132,497 |
|
Net Assets |
46,841,220 |
|
Net Assets Backing |
46,841,220 |
|
Shareholders' Funds |
46,841,220 |
|
Total Share Capital |
41,829,752 |
|
Total Reserves |
5,011,468 |
|
LIQUIDITY (Times) |
|
|
Cash Ratio |
0.76 |
|
Liquid Ratio |
0.89 |
|
Current Ratio |
0.89 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
Stock Ratio |
0 |
|
Debtors Ratio |
0 |
|
Creditors Ratio |
0 |
|
SOLVENCY RATIOS (Times) |
|
|
Gearing Ratio |
0.00 |
|
Liabilities Ratio |
0.37 |
|
Times Interest Earned Ratio |
0.00 |
|
Assets Backing Ratio |
1.12 |
|
PERFORMANCE RATIO (%) |
|
|
Operating Profit Margin |
387.02 |
|
Net Profit Margin |
387.02 |
|
Return On Net Assets |
10.70 |
|
Return On Capital Employed |
10.70 |
|
Return On Shareholders' Funds/Equity |
10.70 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
|
NOTES TO ACCOUNTS |
|
|
Contingent Liabilities |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.11 |
|
|
1 |
Rs.97.84 |
|
Euro |
1 |
Rs.71.12 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.