|
Report No. : |
314577 |
|
Report Date : |
28.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
AGC NETWORKS PTE. LTD. |
|
|
|
|
Formerly Known As : |
AEGIS TECH SINGAPORE PTE. LTD.
|
|
|
|
|
Registered Office : |
50, Raffles Place, 32-01, Singapore Land Tower, 048623 |
|
|
|
|
Country : |
Singapore
|
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
10.11.2009 |
|
|
|
|
Com. Reg. No.: |
200921052-H |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is engaged in the providing information and communication
technology consultancy. |
|
|
|
|
No. of Employees : |
1 [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 : |
Poor |
|
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. 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, before slowing to
in 2011-13, 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.
|
Source
: CIA |
EXECUTIVE
SUMMARY
|
|
REGISTRATION NO. |
: |
200921052-H |
|
COMPANY NAME |
: |
AGC NETWORKS PTE. LTD. |
|
FORMER NAME |
: |
AEGIS TECH SINGAPORE PTE. LTD. (07/07/2011) |
|
INCORPORATION DATE |
: |
10/11/2009 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
50, RAFFLES PLACE, 32-01, SINGAPORE LAND TOWER, 048623, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
50, RAFFLES PLACE, 32-01, SINGAPORE LAND TOWER, 048623, SINGAPORE. |
|
TEL.NO. |
: |
65-65365355 |
|
FAX.NO. |
: |
65-65361360 |
|
EMAIL |
: |
INFO@AGCNETWORKS.COM |
|
WEB SITE |
: |
WWW.AGCNETWORKS.COM |
|
CONTACT PERSON |
: |
ANIL GOVINDAN NAIR ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
PROVIDING INFORMATION AND COMMUNICATION TECHNOLOGY CONSULTANCY |
|
ISSUED AND PAID UP CAPITAL |
: |
114.00 ORDINARY SHARE, OF A VALUE OF SGD 8,003,245.00 |
|
SALES |
: |
USD 35,056,616 [2014] |
|
NET WORTH |
: |
USD 5,508,701 [2014] |
|
STAFF STRENGTH |
: |
1 [2015] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
POOR |
|
PAYMENT |
: |
POOR |
|
MANAGEMENT CAPABILITY |
: |
WEAK |
|
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) providing information
and communication technology consultancy.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
27/03/2015 |
SGD 8,003,245.00 |
The major shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
AGC NETWORKS LIMITED |
EQUINOX BUSINESS PARK, PENINSULA TECHNO PARK, OFF BANDRA KURLA
COMPLEX, LBS MARG, KURLA WEST, MUMBAI, 400070, INDIA. |
011193 |
114.00 |
100.00 |
|
--------------- |
------ |
|||
|
114.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
Local No |
Country |
Company |
(%) |
As At |
|
200921052H |
SINGAPORE |
AGC NETWORKS PTE. LTD. |
100.00 |
26/11/2014 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
ANIL GOVINDAN NAIR |
|
Address |
: |
A201, LODHA BELLISSIMO, N M JOSHI MARG APOLLO MILL COM, MAHALAXMI,
MUMBAI, 400011, INDIA. |
|
IC / PP No |
: |
Z2341077 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
17/06/2014 |
DIRECTOR 2
|
Name Of Subject |
: |
BAEY CHENG SONG |
|
Address |
: |
37, GROVE DRIVE, HENRY PARK, 279077, SINGAPORE. |
|
IC / PP No |
: |
S0247168Z |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
13/02/2012 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
ANIL GOVINDAN NAIR |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
MGI N RAJAN ASSOCIATES |
|
Auditor' Address |
: |
N/A |
|
Auditor |
: |
MGI N RAJAN ASSOCIATES |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
LAI FOON KUEN |
|
IC / PP No |
: |
S7423122E |
|
|
Address |
: |
518A, TAMPINES CENTRAL, 7, 05-76, 521518, SINGAPORE. |
|
BANKING
|
No Banker found in our databank.
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C201313530 |
04/10/2013 |
N/A |
FIRST GULF BANK ABU DHABI |
- |
Unsatisfied |
|
C201313545 |
04/10/2013 |
N/A |
FIRST GULF BANK ABU DHABI |
- |
Unsatisfied |
|
C201313547 |
04/10/2013 |
N/A |
FIRST GULF BANK ABU DHABI |
- |
Unsatisfied |
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 |
[ |
] |
Poor >120 Days |
[ |
X |
] |
||||||||
CLIENTELE
|
|
Local |
: |
N/A |
|||
|
Overseas |
: |
N/A |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
N/A |
|||
The staff from the registered company refused to disclose the Subject's
clientele.
OPERATIONS
|
|
Services |
: |
PROVIDING INFORMATION AND COMMUNICATION TECHNOLOGY CONSULTANCY |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2015 |
||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
1 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) providing information
and communication technology consultancy.
The staff from the registered company refused to disclose the Subject's
operation information.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-65365355 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
50 RAFFELS PLACE 32 01 SINGAPORE LANO TOWER SINGAPORE 04862 |
|
Current Address |
: |
50, RAFFLES PLACE, 32-01, SINGAPORE LAND TOWER, 048623, SINGAPORE. |
|
Match |
: |
NO |
Other Investigations
We contacted the staff from the registered company and she provided some
information.
The address provided is stated as per report.
The Subject refused to disclose its bankers.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
2011 - 2014 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2011 - 2014 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
(193.15%) |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
(173.36%) |
] |
|
|
The continuous fall in turnover could be due to the lower demand for
the Subject's products / services.Higher losses before tax during the year could
be due to the higher operating costs incurred. 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 |
[ |
19 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
166 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
152 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 |
: |
Acceptable |
[ |
0.92 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.98 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 |
: |
Unfavourable |
[ |
(9.88 Times) |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
2.31 Times |
] |
|
|
The Subject incurred losses in the year. It did not generate sufficient
income to service its interest. If the situation does not improve, the
Subject may be vulnerable to default in servicing the interest. 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 Subject's losses could be attributed to the lower turnover which
in turn could be the result of unfavourable market conditions. 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's interest cover was negative, indicating that it
did not generate sufficient income to service its interest. If its result
does not show impressive improvements or succeed obtaining short term financing
or capital injection, it may not be able to service its interest and repay
the loans. 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 : POOR |
||||||
|
|
||||||
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 : |
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. |
|
AGC NETWORKS PTE. LTD. |
|
Financial Year
End |
2014-03-31 |
2013-03-31 |
2012-03-31 |
2011-03-31 |
|
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 |
USD |
USD |
SGD |
SGD |
|
TURNOVER |
35,056,616 |
68,485,504 |
86,012,701 |
29,307,902 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
35,056,616 |
68,485,504 |
86,012,701 |
29,307,902 |
|
Costs of Goods Sold |
(31,848,485) |
(54,122,073) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
3,208,131 |
14,363,431 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(10,640,317) |
(4,190,550) |
15,065,158 |
4,151,186 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
(10,640,317) |
(4,190,550) |
15,065,158 |
4,151,186 |
|
Taxation |
- |
181,557 |
(2,543,642) |
(726,683) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
(10,640,317) |
(4,008,993) |
12,521,516 |
3,424,503 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||||
|
As previously reported |
9,543,142 |
13,552,135 |
(1,787,450) |
(5,211,953) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
9,543,142 |
13,552,135 |
(1,787,450) |
(5,211,953) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(1,097,175) |
9,543,142 |
10,734,066 |
(1,787,450) |
|
TRANSFER TO RESERVES - General |
31,876 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(1,065,299) |
9,543,142 |
10,734,066 |
(1,787,450) |
|
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
||||
|
Others |
977,780 |
694,480 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
977,780 |
694,480 |
- |
- |
|
|
============= |
============= |
|||
|
|
|
|
|
|
BALANCE
SHEET
|
|
AGC NETWORKS PTE. LTD. |
|
ASSETS EMPLOYED: |
||||
|
FIXED ASSETS |
1,789,783 |
2,565,739 |
3,998,521 |
2,944,024 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
||||
|
Subsidiary companies |
4,501,000 |
1,000 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
4,501,000 |
1,000 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
6,290,783 |
2,566,739 |
3,998,521 |
2,944,024 |
|
Stocks |
1,818,182 |
7,936,280 |
- |
- |
|
Trade debtors |
15,987,165 |
30,883,833 |
- |
- |
|
Other debtors, deposits & prepayments |
478,541 |
779,400 |
- |
- |
|
Short term loans & advances |
2,997,426 |
3,209,711 |
- |
- |
|
Amount due from holding company |
- |
2,203,171 |
- |
- |
|
Amount due from subsidiary companies |
4,700,000 |
9,100,000 |
- |
- |
|
Amount due from related companies |
- |
450,000 |
- |
- |
|
Cash & bank balances |
2,442,005 |
495,671 |
- |
- |
|
Others |
2,503,477 |
651,226 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
30,926,796 |
55,709,292 |
72,958,985 |
17,730,234 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
37,217,579 |
58,276,031 |
76,957,506 |
20,674,258 |
|
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
||||
|
Trade creditors |
13,279,756 |
21,874,103 |
- |
- |
|
Other creditors & accruals |
114,821 |
81,926 |
- |
- |
|
Short term borrowings/Term loans |
12,705,048 |
14,808,264 |
- |
- |
|
Deposits from customers |
1,124,236 |
2,366,612 |
- |
- |
|
Amounts owing to holding company |
419,522 |
2,361,196 |
- |
- |
|
Amounts owing to related companies |
1,676,575 |
34,525 |
- |
- |
|
Other liabilities |
2,324,079 |
590,307 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
31,644,037 |
42,116,933 |
60,144,639 |
17,215,165 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
(717,241) |
13,592,359 |
12,814,346 |
515,069 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
5,573,542 |
16,159,098 |
16,812,867 |
3,459,093 |
|
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
||||
|
Ordinary share capital |
6,574,000 |
6,574,000 |
6,078,801 |
6,078,801 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
6,574,000 |
6,574,000 |
6,078,801 |
6,078,801 |
|
Retained profit/(loss) carried forward |
(1,065,299) |
9,543,142 |
10,734,066 |
(1,787,450) |
|
Others |
- |
- |
- |
(832,258) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
(1,065,299) |
9,543,142 |
10,734,066 |
(2,619,708) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
5,508,701 |
16,117,142 |
16,812,867 |
3,459,093 |
|
Others |
64,841 |
41,956 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
64,841 |
41,956 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
5,573,542 |
16,159,098 |
16,812,867 |
3,459,093 |
|
|
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
FINANCIAL
RATIO
|
|
AGC NETWORKS PTE. LTD. |
|
TYPES OF FUNDS |
||||
|
Cash |
2,442,005 |
495,671 |
- |
- |
|
Net Liquid Funds |
2,442,005 |
495,671 |
- |
- |
|
Net Liquid Assets |
(2,535,423) |
5,656,079 |
12,814,346 |
515,069 |
|
Net Current Assets/(Liabilities) |
(717,241) |
13,592,359 |
12,814,346 |
515,069 |
|
Net Tangible Assets |
5,573,542 |
16,159,098 |
16,812,867 |
3,459,093 |
|
Net Monetary Assets |
(2,600,264) |
5,614,123 |
12,814,346 |
515,069 |
|
BALANCE SHEET ITEMS |
||||
|
Total Borrowings |
12,705,048 |
14,808,264 |
- |
- |
|
Total Liabilities |
31,708,878 |
42,158,889 |
60,144,639 |
17,215,165 |
|
Total Assets |
37,217,579 |
58,276,031 |
76,957,506 |
20,674,258 |
|
Net Assets |
5,573,542 |
16,159,098 |
16,812,867 |
3,459,093 |
|
Net Assets Backing |
5,508,701 |
16,117,142 |
16,812,867 |
3,459,093 |
|
Shareholders' Funds |
5,508,701 |
16,117,142 |
16,812,867 |
3,459,093 |
|
Total Share Capital |
6,574,000 |
6,574,000 |
6,078,801 |
6,078,801 |
|
Total Reserves |
(1,065,299) |
9,543,142 |
10,734,066 |
(2,619,708) |
|
LIQUIDITY (Times) |
||||
|
Cash Ratio |
0.08 |
0.01 |
- |
- |
|
Liquid Ratio |
0.92 |
1.13 |
- |
- |
|
Current Ratio |
0.98 |
1.32 |
1.21 |
1.03 |
|
WORKING CAPITAL CONTROL (Days) |
||||
|
Stock Ratio |
19 |
42 |
- |
- |
|
Debtors Ratio |
166 |
165 |
- |
- |
|
Creditors Ratio |
152 |
148 |
- |
- |
|
SOLVENCY RATIOS (Times) |
||||
|
Gearing Ratio |
2.31 |
0.92 |
- |
- |
|
Liabilities Ratio |
5.76 |
2.62 |
3.58 |
4.98 |
|
Times Interest Earned Ratio |
(9.88) |
(5.03) |
- |
- |
|
Assets Backing Ratio |
0.85 |
2.46 |
2.77 |
0.57 |
|
PERFORMANCE RATIO (%) |
||||
|
Operating Profit Margin |
(30.35) |
(6.12) |
17.52 |
14.16 |
|
Net Profit Margin |
(30.35) |
(5.85) |
14.56 |
11.68 |
|
Return On Net Assets |
(173.36) |
(21.64) |
89.60 |
120.01 |
|
Return On Capital Employed |
(173.36) |
(21.64) |
89.60 |
120.01 |
|
Return On Shareholders' Funds/Equity |
(193.15) |
(24.87) |
74.48 |
99.00 |
|
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.62.61 |
|
|
1 |
Rs.92.95 |
|
Euro |
1 |
Rs.68.15 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
TPT |
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.