|
Report No. : |
329224 |
|
Report Date : |
29.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
LOCUZ ENTERPRISE
SOLUTIONS LIMITED SINGAPORE BRANCH |
|
|
|
|
Registered Office : |
1, North Bridge Road, 19-04/05, High Street Centre, 179094 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
26.06.2009 |
|
|
|
|
Com. Reg. No.: |
T09FC0072-F |
|
|
|
|
Legal Form : |
Foreign |
|
|
|
|
Line of Business : |
Hardware Consultancy & Software Consultancy. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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
of consumer electronics, information technology products, medical and optical
devices, pharmaceuticals, and on its vibrant transportation, business, and
financial services sectors. The economy contracted 0.6% in 2009 as a result of
the global financial crisis, but has continued to grow since 2010 on the
strength of renewed exports. Growth in 2014 was slower at 2.9%, largely a
result of soft demand for exports amid a sluggish global economy and weak
growth in Singapore’s manufacturing sector. The government is attempting to
restructure Singapore’s economy by weaning its dependence on foreign labor,
addressing weak productivity, and increasing Singaporean wages. Singapore has
attracted major investments in pharmaceuticals and medical technology
production and will continue efforts to strengthen its position as Southeast
Asia's leading financial and high-tech hub. Singapore is a member of the
12-nation Trans-Pacific Partnership free trade negotiations, the Regional
Comprehensive Economic Partnership negotiations with the nine other ASEAN
members plus Australia, China, India, Japan, South Korea and New Zealand, and
in 2015, Singapore will form, with the other ASEAN members, the ASEAN Economic
Community.
|
Source
: CIA |
|
REGISTRATION
NO. |
: |
T09FC0072-F |
|
COMPANY
NAME |
: |
LOCUZ
ENTERPRISE SOLUTIONS LIMITED SINGAPORE BRANCH |
|
FORMER
NAME |
: |
N/A |
|
INCORPORATION
DATE |
: |
26/06/2009 |
|
COMPANY
STATUS |
: |
EXIST |
|
LEGAL
FORM |
: |
FOREIGN |
|
LISTED
STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
1,
NORTH BRIDGE ROAD, 19-04/05, HIGH STREET CENTRE, 179094, SINGAPORE. |
|
BUSINESS
ADDRESS |
: |
1,
NORTH BRIDGE ROAD, 19-04/05, HIGH STREET CENTRE, 179094, SINGAPORE. |
|
TEL.NO. |
: |
65-63372472 |
|
FAX.NO. |
: |
65-63382844 |
|
WEB
SITE |
: |
WWW.LOCUZ.COM |
|
CONTACT
PERSON |
: |
NEHA
( STAFF ) |
|
PRINCIPAL
ACTIVITY |
: |
HARDWARE
CONSULTANCY & SOFTWARE CONSULTANCY |
|
AUTHORISED
CAPITAL |
: |
IDR
10,000,000.00 |
|
SALES |
: |
USD
14,531,107 [2013] |
|
NET
WORTH |
: |
USD
(83,234) [2013] |
|
STAFF
STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL
CONDITION |
: |
POOR |
|
PAYMENT |
: |
Slow
|
|
MANAGEMENT
CAPABILITY |
: |
WEAK |
|
COMMERCIAL
RISK |
: |
MODERATE |
|
CURRENCY
EXPOSURE |
: |
MODERATE |
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY
OUTLOOK |
: |
MARGINAL
GROWTH |
HISTORY/
BACKGROUND
|
The
Subject is principally engaged in the (as a / as an) hardware consultancy &
software consultancy.
Share
Capital History
|
Date |
Authorised
Shared Capital |
Issue
& Paid Up Capital |
|
29/06/2015 |
IDR
10,000,000.00 |
IDR
0.00 |
No
shareholders was found in our databank at the time of investigation
DIRECTORS
|
DIRECTOR
1
|
Name
Of Subject |
: |
LAKSHMINARAYANAN
A/L SEETHARAMA SASTRY |
|
Address |
: |
A-403,
PLOT 13-14, AMRITA SADAN, SECTOR 22, OPP NERUL STATION NERUL (W), NAVI
MUMBAI, 400706, MAHARASHTRA, INDIA. |
|
IC
/ PP No |
: |
2182569 |
|
Nationality |
: |
INDIAN |
|
Date
of Appointment |
: |
02/06/2008 |
DIRECTOR
2
|
Name
Of Subject |
: |
KOTA
VENKATA DURGANADH |
|
Address |
: |
F
33, 6-3-630/1, 2, AND 3, SYMPHONY DWELLINGS, ANAND NAGAR COLONY, KHAIRATABAD,
HYDERABAD, 500004 ANDHRA PRADESH |
|
IC
/ PP No |
: |
1325018 |
|
Nationality |
: |
INDIAN |
|
Date
of Appointment |
: |
05/12/2005 |
DIRECTOR
3
|
Name
Of Subject |
: |
PRASANNA
LAHOTI |
|
Address |
: |
501,
SKY WALK TOWER BLDG, 5, ORLEM TANK LANE, VALNAI, MALAD WEST, MUMBAI, 400064,
MAHARASHTRA, INDIA. |
|
IC
/ PP No |
: |
2503416 |
|
Nationality |
: |
INDIAN |
|
Date
of Appointment |
: |
14/01/2009 |
DIRECTOR
4
|
Name
Of Subject |
: |
SHIVANAND
RAMA SHETTIGAR |
|
Address |
: |
NAGAR,
CHEMBUR, MUMBAI, 400089, MAHARASHTRA, INDIA. |
|
IC
/ PP No |
: |
209835 |
|
Nationality |
: |
INDIAN |
|
Date
of Appointment |
: |
02/06/2008 |
DIRECTOR
5
|
Name
Of Subject |
: |
ANIRUDH
PRABHAKARAN |
|
Address |
: |
306,
PHASE-II, PALM MEADOWS, AIRPORT, WHITEFIELD ROAD, RAMA GONDANA HALLI, 560066,
BANGALORE, INDIA. |
|
IC
/ PP No |
: |
588346 |
|
Nationality |
: |
INDIAN |
|
Date
of Appointment |
: |
02/06/2008 |
DIRECTOR
6
|
Name
Of Subject |
: |
VIJAY
KUMAR WADHI |
|
Address |
: |
MANSAROVER,
107, VILLA GREENS, GANDIPET, HYDERABAD, 500075, ANDHRA PRADESH, INDIA. |
|
IC
/ PP No |
: |
87657 |
|
Nationality |
: |
INDIAN |
|
Date
of Appointment |
: |
19/11/1999 |
DIRECTOR
7
|
Name
Of Subject |
: |
UTTAM
KUMAR MAJUMDAR |
|
Address |
: |
1-7-200/1,
KAMALANAGAR, ECIL, HYDERABAD, 500001, ANDHRA PRADESH, INDIA. |
|
IC
/ PP No |
: |
87668 |
|
Nationality |
: |
INDIAN |
|
Date
of Appointment |
: |
19/11/1999 |
MANAGEMENT
|
|
1)
|
Name
of Subject |
: |
NEHA |
|
Position |
: |
STAFF |
AUDITOR
|
No Auditor found in our databank
COMPANY
SECRETARIES
|
|
1)
|
Company
Secretary |
: |
VANGAL
RANGARAJAN RANGANATHAN |
|
IC
/ PP No |
: |
S2662860A |
|
|
Address |
: |
207,
SERANGOON CENTRAL, 11-198, 550207, SINGAPORE. |
|
|
Remarks |
: |
AGENT |
|
|
2)
|
Company
Secretary |
: |
NARASIMHAN
MOHAN |
|
IC
/ PP No |
: |
S2625331D |
|
|
Address |
: |
113,
WHAMPOA ROAD, 04-89, 320113, SINGAPORE. |
|
|
Remarks |
: |
AGENT |
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 |
: |
YES |
|||
|
Domestic
Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export
Market |
: |
ASIA |
|||
|
Credit
Term |
: |
N/A |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Services |
: |
HARDWARE
CONSULTANCY & SOFTWARE CONSULTANCY |
|
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) hardware consultancy
& software consultancy.
The Group is a trusted partner to several Global Corporations and Institutions for
managing their End-to-End IT (Information Technology) Infrastructure Life Cycle
& Business Critical Processes. Locuz is a leading IT organization focused
on delivering smart, next-generation solutions that help enterprises overcome
their business IT challenges. These solutions leverage innovations in
technology, knowledge of business processes, and domain expertise to provide
clients a competitive edge.
The Group's next-generation solutions and services specialize in:
Industry Verticals in IT-ITES, Healthcare, Financial Services, Insurance,
Manufacturing, Education & Research and Defense; and Varied business
processes that transcend pCloud Computing, VDI & BYOD, Core DC, NGN &
Collaboration, Identity & Access Management, Information Security, Big
Data, High Performance Computing & IT Automation & Analytics.
CURRENT
INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
9490192,
062 |
|
Current
Telephone Number |
: |
65-63372472 |
|
Match |
: |
NO |
|
Address
Provided by Client |
: |
SINGAPORE
|
|
Current
Address |
: |
1,
NORTH BRIDGE ROAD, 19-04/05, HIGH STREET CENTRE, 179094, SINGAPORE. |
|
Match |
: |
NO |
Other
Investigations
We contacted one of the staff from the Subject's registered office and she only
provided limited information.
The address provided is incomplete.
She refused to disclose the Subject bankers and number of employees.
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
33.42% |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
109.11% |
] |
|
|
Return
on Shareholder Funds |
: |
Unfavourable |
[ |
(1,033.09%) |
] |
|
|
Return
on Net Assets |
: |
Unfavourable |
[ |
(1,229.11%) |
] |
|
|
The
increase in turnover could be due to the Subject adopting an aggressive
marketing strategy.The higher profit could be attributed to the increase in turnover.
The Subject's unfavourable returns on shareholders' funds indicate the
management's inefficiency in utilising its assets to generate returns. |
||||||
|
Working
Capital Control |
||||||
|
Stock
Ratio |
: |
Favourable |
[ |
0
Days |
] |
|
|
Debtor
Ratio |
: |
Favourable |
[ |
39
Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
59
Days |
] |
|
|
The
Subject's stocks were moving fast thus reducing its holding cost. This had reduced
funds being tied up in 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 |
[ |
0.95
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
0.96
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 : |
||||||
|
Generally,
the Subject's performance has improved with higher turnover and profit. 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 : POOR |
||||||
|
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
: |
INFORMATION
TECHNOLOGY |
|
Singapore's
infocomm services industry is well-positioned to tap into the new business
opportunities of the digital age. An early mover in infocomm technology, Singapore
today ranks as the second most network-ready country in the world and the
first in Asia, according to the World Economic Forum's "Global
Information Technology Report 2014". The roll out of the Intelligent
Nation 2015 Master Plan and the National Broadband Network will further
strengthen Singapore's infrastructure network. |
|
|
Furthermore,
BMI has a positive outlook for the growth of Singapore's IT market in 2014,
which will underperform emerging market growth rates, but is expected to
outperform against other developed markets. Strong income growth, exposure to
the APAC growth story and government policy will all support IT market growth
over the medium term. Growth from the sales of PC and devices will slow as
high device penetration in the city state means little prospect for first
time sales, but short replacement cycles and strong demand for premium
devices will ensure it remains a lucrative market for vendors. Considering
the government active push to promote Singapore as a destination for cloud,
big data and analytics services, Singapore should be a strong contender in
the data centre space against peers such as Australia, Taiwan, South Korea
and Hong Kong. |
|
|
The
information & communications sector grew by 2.3% in the third quarter of
2014. Previously, in the fourth quarter of 2013, the information &
communications sector grew by 5.0%, following the 6.0% expansion in the
preceding quarter. For the whole of 2013, growth was 5.5%, lower than the
6.2% in 2012. |
|
|
Nonetheless,
computer hardware sales forecast to increase from SGD2.926bn in 2014 to
SGD3.333bn in 2018, equating to a compound annual growth rate (CAGR) of 3.5%
in local currency terms. The slowdown in tablet sales represents downside by
a stabilization in desktop and notebook volumes will see the market continue
to grow over the medium term. Besides, software sales forecast to increase
from SGD1.436bn in 2014 to SGD1.733bn in 2018, representing a CAGR of 5.2% in
local currency terms. SME demand for basic enterprise software (particularly
SaaS), complex deployments by large enterprises and investments in security
software will all be growth areas. |
|
|
IT
Services sales forecast to increase from SGD3.236bn in 2014 to SGD4.091bn in
2018, equating to a CAGR of 5.9% in local currency terms. Growing demand for
cloud computing, big data and analytics services from telecoms, healthcare,
logistics and government will support IT services outperformance. |
|
|
The
Intelligent Nation 2015 master plan lays out the blueprint for Singapore’s
infocomm strategies in the digital age, with the creation of some 80,000 jobs
and an increase of value-add to SGD 26 billion. The master plan will
incorporate emerging technologies and leverage strategic developments. Some
of these emerging developments include Cloud Computing, Business Analytics
and Green ICT. While Singapore has performed well in international
e-Government rankings, the next e-Government master plan is already in the
pipeline to ensure that we remain at the forefront of e-Government practice
and services. |
|
|
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. |
|
LOCUZ
ENTERPRISE SOLUTIONS LIMITED SINGAPORE BRANCH |
|
Financial
Year End |
2013-03-31 |
2012-03-31 |
|
Months |
12 |
12 |
|
Consolidated
Account |
Company |
Company |
|
Audited
Account |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial
Type |
FULL |
FULL |
|
Currency |
USD |
USD |
|
TURNOVER |
14,531,107 |
10,891,318 |
|
Other
Income |
25,896 |
- |
|
---------------- |
---------------- |
|
|
Total
Turnover |
14,557,003 |
10,891,318 |
|
Costs
of Goods Sold |
(12,648,770) |
(9,433,030) |
|
---------------- |
---------------- |
|
|
Gross
Profit |
1,908,233 |
1,458,288 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
1,023,037 |
489,231 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
1,023,037 |
489,231 |
|
Taxation |
(163,158) |
(58,586) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
859,879 |
430,645 |
|
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As
previously reported |
949,623 |
518,978 |
|
---------------- |
---------------- |
|
|
As
restated |
949,623 |
518,978 |
|
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
1,809,502 |
949,623 |
|
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
1,809,502 |
949,623 |
|
============= |
============= |
|
|
LOCUZ
ENTERPRISE SOLUTIONS LIMITED SINGAPORE BRANCH |
|
Stocks |
19,817 |
167,213 |
|
Trade
debtors |
1,541,593 |
1,936,897 |
|
Other
debtors, deposits & prepayments |
293,333 |
10,486 |
|
Cash
& bank balances |
287,507 |
312,270 |
|
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
2,142,250 |
2,426,866 |
|
---------------- |
---------------- |
|
|
TOTAL
ASSET |
2,142,250 |
2,426,866 |
|
============= |
============= |
|
|
CURRENT
LIABILITIES |
||
|
Trade
creditors |
2,046,120 |
1,696,327 |
|
Other
creditors & accruals |
54,394 |
58,989 |
|
Provision
for taxation |
124,970 |
106,000 |
|
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
2,225,484 |
1,861,316 |
|
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
(83,234) |
565,550 |
|
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
(83,234) |
565,550 |
|
============= |
============= |
|
|
HEAD
OFFICE ACCOUNT |
(1,892,736) |
(384,073) |
|
Retained
profit/(loss) carried forward |
1,809,502 |
949,623 |
|
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
1,809,502 |
949,623 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
(83,234) |
565,550 |
|
---------------- |
---------------- |
|
|
(83,234) |
565,550 |
|
|
============= |
============= |
|
|
LOCUZ
ENTERPRISE SOLUTIONS LIMITED SINGAPORE BRANCH |
|
TYPES
OF FUNDS |
||
|
Cash |
287,507 |
312,270 |
|
Net
Liquid Funds |
287,507 |
312,270 |
|
Net
Liquid Assets |
(103,051) |
398,337 |
|
Net
Current Assets/(Liabilities) |
(83,234) |
565,550 |
|
Net
Tangible Assets |
(83,234) |
565,550 |
|
Net
Monetary Assets |
(103,051) |
398,337 |
|
PROFIT
& LOSS ITEMS |
||
|
Earnings
Before Interest & Tax (EBIT) |
1,023,037 |
489,231 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
1,023,037 |
489,231 |
|
BALANCE
SHEET ITEMS |
||
|
Total
Borrowings |
0 |
0 |
|
Total
Liabilities |
2,225,484 |
1,861,316 |
|
Total
Assets |
2,142,250 |
2,426,866 |
|
Net
Assets |
(83,234) |
565,550 |
|
Net
Assets Backing |
(83,234) |
565,550 |
|
Shareholders'
Funds |
(83,234) |
565,550 |
|
Total
Share Capital |
0 |
0 |
|
Total
Reserves |
1,809,502 |
949,623 |
|
LIQUIDITY
(Times) |
||
|
Cash
Ratio |
0.13 |
0.17 |
|
Liquid
Ratio |
0.95 |
1.21 |
|
Current
Ratio |
0.96 |
1.30 |
|
WORKING
CAPITAL CONTROL (Days) |
||
|
Stock
Ratio |
0 |
6 |
|
Debtors
Ratio |
39 |
65 |
|
Creditors
Ratio |
59 |
66 |
|
SOLVENCY
RATIOS (Times) |
||
|
Gearing
Ratio |
0.00 |
0.00 |
|
Liabilities
Ratio |
(26.74) |
3.29 |
|
Times
Interest Earned Ratio |
0.00 |
0.00 |
|
Assets
Backing Ratio |
- |
- |
|
PERFORMANCE
RATIO (%) |
||
|
Operating
Profit Margin |
7.04 |
4.49 |
|
Net
Profit Margin |
5.92 |
3.95 |
|
Return
On Net Assets |
(1,229.11) |
86.51 |
|
Return
On Capital Employed |
(1,229.11) |
86.51 |
|
Return
On Shareholders' Funds/Equity |
(1,033.09) |
76.15 |
|
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.63.60 |
|
|
1 |
Rs.100.09 |
|
Euro |
1 |
Rs.71.23 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.