|
Report No. : |
326233 |
|
Report Date : |
11.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
PARAMOUNT BED ASIA PACIFIC PTE. LTD. |
|
|
|
|
Registered Office : |
1, Raffles Place, 19-01, One Raffles Place, 048616 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
14.02.2012 |
|
|
|
|
Com. Reg. No.: |
201203551-G |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading of bed |
|
|
|
|
No of Employees : |
Not Available |
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 : |
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 Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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. |
: |
201203551-G |
||||
|
COMPANY NAME |
: |
PARAMOUNT BED
ASIA PACIFIC PTE. LTD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
14/02/2012 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
1, RAFFLES PLACE, 19-01, ONE RAFFLES
PLACE, 048616, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
1, RAFFLES PLACE, 19-01, OFFICE TOWER ONE,
048616, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-62209750 |
||||
|
FAX.NO. |
: |
65-62209571 |
||||
|
CONTACT PERSON |
: |
KIMURA KYOSUKE ( PRESIDENT ) |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF BED |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
14,242,454.00 ORDINARY SHARE, OF A VALUE
OF SGD 14,242,454.00 |
||||
|
SALES |
: |
SGD 21,068,874 [2014] |
||||
|
NET WORTH |
: |
SGD 12,308,934 [2014] |
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
FAIR |
||||
|
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) trading of bed.
The immediate holding company of the Subject is PARAMOUNT BED HOLDINGS CO., LTD, a company incorporated in JAPAN.
Share Capital History
|
Date |
Issue & Paid
Up Capital |
|
08/06/2015 |
SGD 14,242,454.00 |
The major shareholder(s) of the Subject are
shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
PARAMOUNT BED HOLDINGS CO., LTD |
2-14-5, HIGASHISUNA, KOTO-KU, TOKYO,
JAPAN. |
T12UF0553F |
14,242,454.00 |
100.00 |
|
--------------- |
------ |
|||
|
14,242,454.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
KIMURA KYOSUKE |
|
Address |
: |
9-22, MINAMIAZABU, 4-CHOME, MINATO-KU,
TOKYO, JAPAN. |
|
IC / PP No |
: |
TH1161043 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
03/06/2013 |
DIRECTOR 2
|
Name Of Subject |
: |
KIMURA MICHIHIDE |
|
Address |
: |
ROOM 1202, 11-12, AKASAKA, 1- CHOME
MINATO-KU, TOKYO, JAPAN. |
|
IC / PP No |
: |
TK3394384 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
14/02/2012 |
DIRECTOR 3
|
Name Of Subject |
: |
OHTSU YASUSHI |
|
Address |
: |
6, ALEXANDRA VIEW, 19-04, METROPOLITAN
CONDOMINIUM, 158746, SINGAPORE. |
|
IC / PP No |
: |
G5272320K |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
06/03/2012 |
DIRECTOR 4
|
Name Of Subject |
: |
KATO RYOJIRO |
|
Address |
: |
30, MOUNT SOPHIA, 14-06, THE CATHAY
RESIDENCE, 228464, SINGAPORE. |
|
IC / PP No |
: |
G3028181R |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/04/2014 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
KIMURA KYOSUKE |
|
Position |
: |
PRESIDENT |
|
AUDITOR
|
|
Auditor |
: |
SCS GLOBAL PAC |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MITANI MASATOSHI |
|
IC / PP No |
: |
S7376581A |
|
|
Address |
: |
49, ST. THOMAS WALK, 11-07, BAYRON, THE, 238140, SINGAPORE. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
BARCLAYS BANK PLC |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge
Description |
Chargee Name |
Total Charge |
Status |
|
C201504700 |
17/04/2015 |
N/A |
BARCLAYS BANK PLC |
- |
Unsatisfied |
LITIGATION
CHECK AGAINST SUBJECT
|
* 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.
PAYMENT
RECORD
|
|
||
|
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 |
[ |
X |
] |
Poor >120 Days |
[ |
] |
||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
N/A |
|||
OPERATIONS
|
|
Goods Traded |
: |
BED |
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of bed.
Paramount Bed's acute-care business is set up to meet the demands of ICUs and
other acute-care facilities. These products are designed to help create an
environment that relieves patient discomfort and pain, as well as preventing
secondary infection and ensuring a high level of safety.
RECENT
DEVELOPMENT
|
19th November 2014
Paramount Bed (Thailand) Co., Ltd. is going to participate in CRITICAL CARE
MEDICINE 2014 in Bangkok, Thailand;
Date: From 18th to 20th December 2014
Venue: Centara Grand at Central Plaza Ladprao, Bangkok
Opening hours: December 18th – 20th: 08:30 – 16:15
Location: Ballroom C No. 12 &17
We are planning to exhibit our innovative products there.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62209750 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
12 MARINE VIEW # 08-01 ASIA SQUARE TOWER 2 SINGAPORE 018961 |
|
Current Address |
: |
1, RAFFLES PLACE, 19-01, OFFICE TOWER ONE, 048616, SINGAPORE. |
|
Match |
: |
NO |
Other
Investigations
We contacted one of the staff from the Subject and she provided some
information on the Subject.
The Subject had shifted from the address provided.
The Subject refused to disclose its number of employees.
FINANCIAL
ANALYSIS
|
|
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
4,415.97% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
(470.22%) |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
7.29% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
4.10% |
] |
|
|
The increase in turnover could be due to the Subject adopting an
aggressive marketing strategy. The management had succeeded in turning the
Subject into a profit making company. The profit could be due to better control
of its operating costs and efficiency in utilising its resources. The
unfavourable return on shareholders' funds could indicate that the Subject
was inefficient in utilising its assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
93 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
82 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding cost.
This had reduced funds being tied up in stocks. The Subject's debtors ratio
was high. The Subject should tighten its credit control and improve its
collection period. 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 |
: |
Favourable |
[ |
3.26 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
3.26 Times |
] |
|
|
A minimum liquid ratio of 1 should be maintained by the Subject in order
to assure its creditors of its ability to meet short term obligations and the
Subject was in a good liquidity position. Thus, we believe the Subject is
able to meet all its short term obligations as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Acceptable |
[ |
7.84 Times |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
1.82 Times |
] |
|
|
The Subject's interest cover was slightly low. If there is no sharp fall
in its profit or sudden increase in the interest rates, we believe the
Subject is able to generate sufficient income to service its interest and
repay the loans. The Subject was highly geared, thus it had a high financial
risk. The Subject was dependent on loans to finance its business needs. In
times of economic downturn and / or high interest rate, the Subject will
become less profitable and competitive than other firms in the same industry,
which are lowly geared. This is because the Subject has to service the
interest and to repay the loan, which will erode part of its profits. The
profits will fluctuate depending on the Subject's turnover and the interest
it needs to pay. |
||||||
|
Overall
Assessment : |
||||||
|
The higher turnover had helped to reduce the Subject's losses. The
Subject was in good liquidity position with its total current liabilities
well covered by its total current assets. With its current net assets, the
Subject should be able to repay its short term obligations. The Subject had
an acceptable interest cover. If there is no sudden sharp increase in
interest rate or fall in the Subject's profit, we do believe the Subject is
able to generate sufficient cash flow to service its interest payment. The
Subject's gearing level was high and its going concern will be in doubt if
there is no injection of additional shareholders' funds in times of economic
downturn and / or high interest rates. |
||||||
|
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 : |
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
|
|
From the investigation revealed, 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. 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.
The Subject has generated an unfavourable return on shareholders' funds
indicating that the management was inefficient in utilising its funds to
generate return. The Subject is in good liquidity position with its current
liabilities well covered by it current assets. Hence, it has sufficient
working capital to meet its short term financial obligations. The high
gearing ratio clearly implied that the Subject was supported by more debt
than equity. Thus, the Subject is exposed to high financial risk. Given a
positive net worth standing at SGD 12,308,934, the Subject should be able to
maintain its business in the near terms. The Subject's overall payment habit is
fair and this clearly implied a weak credit control of the Subject. 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 normally. |
|
|
PROFIT
AND LOSS ACCOUNT
|
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS. |
|
PARAMOUNT BED
ASIA PACIFIC PTE. LTD. |
|
Financial Year End |
2014-03-31 |
2013-03-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
SGD |
SGD |
|
TURNOVER |
21,068,874 |
466,542 |
|
Other Income |
1,624,673 |
4,444 |
|
---------------- |
---------------- |
|
|
Total Turnover |
22,693,547 |
470,986 |
|
Costs of Goods Sold |
(20,670,850) |
(461,877) |
|
---------------- |
---------------- |
|
|
Gross Profit |
2,022,697 |
9,109 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
1,241,220 |
(335,264) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
1,241,220 |
(335,264) |
|
Taxation |
(344,252) |
- |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
896,968 |
(335,264) |
|
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
(335,264) |
- |
|
---------------- |
---------------- |
|
|
As restated |
(335,264) |
- |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
561,704 |
(335,264) |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
561,704 |
(335,264) |
|
============= |
============= |
|
|
Loan from holding company |
181,595 |
10,522 |
|
---------------- |
---------------- |
|
|
181,595 |
10,522 |
|
|
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
4,824 |
4,422 |
|
---------------- |
---------------- |
|
|
4,824 |
4,422 |
|
|
============= |
============= |
BALANCE
SHEET
|
|
|
|
PARAMOUNT BED
ASIA PACIFIC PTE. LTD. |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
81,184 |
10,051 |
|
LONG TERM
INVESTMENTS/OTHER ASSETS |
||
|
Subsidiary companies |
15,752,814 |
560,257 |
|
Associated companies |
2,513,530 |
- |
|
Investments |
5,196,285 |
6,500,000 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
23,462,629 |
7,060,257 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
23,543,813 |
7,070,308 |
|
Stocks |
139 |
- |
|
Trade debtors |
5,357,524 |
419,230 |
|
Other debtors, deposits & prepayments |
157,177 |
30,670 |
|
Short term deposits |
1,296,581 |
- |
|
Amount due from holding company |
5,101 |
- |
|
Amount due from subsidiary companies |
6,133,555 |
- |
|
Cash & bank balances |
3,131,844 |
136,961 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
16,081,921 |
586,861 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
39,625,734 |
7,657,169 |
|
============= |
============= |
|
|
CURRENT
LIABILITIES |
||
|
Trade creditors |
4,615,727 |
108,782 |
|
Other creditors & accruals |
100,786 |
22,155 |
|
Provision for taxation |
217,365 |
- |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
4,933,878 |
130,937 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
11,148,043 |
455,924 |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
34,691,856 |
7,526,232 |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share capital |
11,747,230 |
100,000 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
11,747,230 |
100,000 |
|
Retained profit/(loss) carried forward |
561,704 |
(335,264) |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
561,704 |
(335,264) |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
12,308,934 |
(235,264) |
|
Long term loans |
- |
7,761,496 |
|
Other long term borrowings |
22,382,922 |
- |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
22,382,922 |
7,761,496 |
|
---------------- |
---------------- |
|
|
34,691,856 |
7,526,232 |
|
|
============= |
============= |
|
FINANCIAL
RATIO
|
|
|
|
PARAMOUNT BED
ASIA PACIFIC PTE. LTD. |
|
TYPES OF FUNDS |
||
|
Cash |
4,428,425 |
136,961 |
|
Net Liquid Funds |
4,428,425 |
136,961 |
|
Net Liquid Assets |
11,147,904 |
455,924 |
|
Net Current Assets/(Liabilities) |
11,148,043 |
455,924 |
|
Net Tangible Assets |
34,691,856 |
7,526,232 |
|
Net Monetary Assets |
(11,235,018) |
(7,305,572) |
|
BALANCE SHEET
ITEMS |
||
|
Total Borrowings |
22,382,922 |
7,761,496 |
|
Total Liabilities |
27,316,800 |
7,892,433 |
|
Total Assets |
39,625,734 |
7,657,169 |
|
Net Assets |
34,691,856 |
7,526,232 |
|
Net Assets Backing |
12,308,934 |
(235,264) |
|
Shareholders' Funds |
12,308,934 |
(235,264) |
|
Total Share Capital |
11,747,230 |
100,000 |
|
Total Reserves |
561,704 |
(335,264) |
|
LIQUIDITY
(Times) |
||
|
Cash Ratio |
0.90 |
1.05 |
|
Liquid Ratio |
3.26 |
4.48 |
|
Current Ratio |
3.26 |
4.48 |
|
WORKING CAPITAL
CONTROL (Days) |
||
|
Stock Ratio |
0 |
0 |
|
Debtors Ratio |
93 |
328 |
|
Creditors Ratio |
82 |
86 |
|
SOLVENCY RATIOS
(Times) |
||
|
Gearing Ratio |
1.82 |
(32.99) |
|
Liabilities Ratio |
2.22 |
(33.55) |
|
Times Interest Earned Ratio |
7.84 |
(30.86) |
|
Assets Backing Ratio |
2.95 |
75.26 |
|
PERFORMANCE
RATIO (%) |
||
|
Operating Profit Margin |
5.89 |
(71.86) |
|
Net Profit Margin |
4.26 |
(71.86) |
|
Return On Net Assets |
4.10 |
(4.31) |
|
Return On Capital Employed |
4.10 |
(4.31) |
|
Return On Shareholders' Funds/Equity |
7.29 |
142.51 |
|
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. 63.88 |
|
|
1 |
Rs. 98.47 |
|
Euro |
1 |
Rs. 72.14 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
DPT |
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.