MIRA INFORM REPORT

 

 

Report No. :

321762

Report Date :

15.05.2015

 

IDENTIFICATION DETAILS

 

Name :

UNISPEC TECHNOLOGIES PTE. LTD.

 

 

Formerly Known As :

SPECSYNERGY TECHNOLOGIES PTE. LTD. (17/06/2004)

 

 

Registered Office :

51, Changi Business Park Central 2, 09-14, The Signature, 486066

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

24.02.2004

 

 

Com. Reg. No.:

200402091-K

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Wholesale of Electronic Components

 

 

No. of Employees :

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.

:

200402091-K

COMPANY NAME

:

UNISPEC TECHNOLOGIES PTE. LTD.

FORMER NAME

:

SPECSYNERGY TECHNOLOGIES PTE. LTD. (17/06/2004)

INCORPORATION DATE

:

24/02/2004

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

51, CHANGI BUSINESS PARK CENTRAL 2, 09-14, THE SIGNATURE, 486066, SINGAPORE.

BUSINESS ADDRESS

:

51, CHANGI BUSINESS PARK CENTRAL 2, 09-14, THE SIGNATURE, 486066, SINGAPORE.

TEL.NO.

:

65-97342021

FAX.NO.

:

65-67846816

CONTACT PERSON

:

KANWAL NAIN SAHNEY ( DIRECTOR )

PRINCIPAL ACTIVITY

:

WHOLESALE OF ELECTRONIC COMPONENTS

ISSUED AND PAID UP CAPITAL

:

600,100.00 ORDINARY SHARE, OF A VALUE OF USD 752,645.42 

SALES

:

SGD 13,363,135 [2014]

NET WORTH

:

SGD 813,199 [2014]

STAFF STRENGTH

:

N/A

BANKER (S)

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

FAIR

PAYMENT

:

GOOD

MANAGEMENT CAPABILITY

:

AVERAGE

COMMERCIAL RISK

:

N/A

CURRENCY EXPOSURE

:

N/A

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

AVERAGE GROWTH

PROPOSED CREDIT LIMIT

:

SGD 85,652 (USD 66,000)

 

 

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) wholesale of electronic components.

Share Capital History

Date

Issue & Paid Up Capital

12/05/2015

USD 752,645.42

 

The major shareholder(s) of the Subject are shown as follows :

 

Name

Address

IC/PP/Loc No

Shareholding

(%)

SPECVISION HOLDINGS PTE. LTD.

51, CHANGI BUSINESS PARK CENTRAL 2, 09-14, THE SIGNATURE, 486066, SINGAPORE.

200403417

300,050.00

50.00

UNIX ELECTRONICS (INDIA) PVT LTD

14, AASHIRWAD BUILDING, DR B A ROAD, SION(W), MUMBAI, 3RD FLOOR, 400022, INDIA.

T05UF2141

300,050.00

50.00

---------------

------

600,100.00

100.00

============

=====

 

+ Also Director

 

 

DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

KANWAL NAIN SAHNEY

Address

:

70A, BOURNEMOUTH ROAD, BOURNEMOUTH EIGHT, 439720, SINGAPORE.

IC / PP No

:

S2616608Z

Nationality

:

SINGAPOREAN

Date of Appointment

:

15/09/2005

 

DIRECTOR 2

 

Name Of Subject

:

ANNU SAHNEY

Address

:

70A, BOURNEMOUTH ROAD, BOURNEMOUTH EIGHT, 439720, SINGAPORE.

IC / PP No

:

S2616610A

Nationality

:

SINGAPOREAN

Date of Appointment

:

30/03/2006

 

DIRECTOR 3

 

Name Of Subject

:

MEHTA BHUSHAN GUNVANTRAI

Address

:

PLOT 575/A, THE ORIENT, FLAT 401, J.K.MARG, MATUNGA (CR) MUMBAI, 4TH FLOOR, 400019, INDIA.

IC / PP No

:

Z2025916

Nationality

:

INDIAN

Date of Appointment

:

24/02/2004


MANAGEMENT

 

 

 

1)

Name of Subject

:

KANWAL NAIN SAHNEY

Position

:

DIRECTOR

 

 

 

AUDITOR

 

Auditor

:

STAMFORD ASSOCIATES LLP

Auditor' Address

:

N/A

 

Auditor

:

STAMFORD ASSOCIATES LLP

Auditor' Address

:

N/A

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

KALYANASUNDARAM MARAN

IC / PP No

:

S2662120H

Address

:

30, JALAN BAHAGIA, 02-380, 320030, SINGAPORE.

 

 

 

BANKING


Banking relations are maintained principally with :

1)

Name

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

 

 

ENCUMBRANCE (S)

 

Charge No

Creation Date

Charge Description

Chargee Name

Total Charge

Status

C201308938

02/07/2013

N/A

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

-

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 staff from the registered office refused to disclose the Subject's 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

[

X

]

Average 61-90 Days

[

]

Fair 91-120 Days

[

]

Poor >120 Days

[

]

 

 

CLIENTELE

 

Local

:

N/A

Overseas

:

N/A


The staff from the registered office refused to disclose the Subject's clientele. 

 

 

OPERATIONS

 

Goods Traded

:

ELECTRONIC COMPONENTS

 

Branch

:

NO

Other Information:


The Subject is principally engaged in the (as a / as an) wholesale of electronic components. 
The staff from the registered office refused to disclose the Subject's operation. 

CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

65-97342021

Match

:

N/A

Address Provided by Client

:

51 CHANGI BUSINESS PARK CENTRAL 2 09-14 THE SIGNATURE SINGAPORE

Current Address

:

51, CHANGI BUSINESS PARK CENTRAL 2, 09-14, THE SIGNATURE, 486066, SINGAPORE.

Match

:

NO

 

Other Investigations


On 12th May 2015 we contacted one of the staff from the Subject's registered office and he only provided limited information.

The address provided is incomplete. 


He refused to disclose the Subject's number of employees.


FINANCIAL ANALYSIS

 

 

Profitability

Turnover

:

Erratic

[

2010 - 2014

]

Profit/(Loss) Before Tax

:

Increased

[

2010 - 2014

]

Return on Shareholder Funds

:

Acceptable

[

17.28%

]

Return on Net Assets

:

Acceptable

[

19.50%

]

The fluctuating turnover reflects the fierce competition among the existing and new market players.The higher profit could be attributed to the increase in turnover. The Subject's management had generated acceptable return for its shareholders using its assets.

Working Capital Control

Stock Ratio

:

Acceptable

[

60 Days

]

Debtor Ratio

:

Favourable

[

22 Days

]

Creditors Ratio

:

Favourable

[

7 Days

]

The Subject kept adequate stocks to meet its normal business transactions without incurring excessive storage costs. 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

:

Unfavourable

[

0.47 Times

]

Current Ratio

:

Unfavourable

[

1.30 Times

]

A low liquid ratio means that the Subject may be facing working capital deficiency. If the Subject cannot obtain additional financing or injection of fresh capital, it may face difficulties in meeting its short term obligations.

Solvency

Interest Cover

:

Favourable

[

11.09 Times

]

Gearing Ratio

:

Favourable

[

0.54 Times

]

The interest cover showed that the Subject was able to service the interest. The favourable interest cover could indicate that the Subject was making enough profit to pay for the interest accrued. The Subject was lowly geared thus it had a low financial risk. The Subject was mainly financed by its shareholders' funds and internally generated funds. In times of economic slowdown / downturn, the Subject being a lowly geared company, will be able to compete better than those companies which are highly geared in the same industry.

Overall Assessment :

Although the turnover was erratic, the Subject had maintained a steady growth in its profit. This indicate the management's efficiency in controlling its costs and profitability. Due to its weak liquidity position, the Subject will be faced with problems in meeting all its short term obligations if no short term loan is obtained or additional capital injected into the Subject. With the favourable interest cover, the Subject could be able to service all the accrued interest without facing any difficulties. The Subject as a lowly geared company, will be more secured compared to those highly geared companies. It has the ability to meet all its long term obligations.

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)

(Source : Department of Statistics)


INDUSTRY ANALYSIS

 

INDUSTRY :

TRADING

The wholesale and retail trade sectors have expanded by 2.0% in the third quarter of 2014, extending the 1.8 per cent growth in the previous quarter. In 2013, the wholesale and retail sector expanded by 5.0%, after declining by 1.4% the year before. Growth of the sector was driven by the wholesale trade segment.

The domestic wholesale trade index has increased by 3.2% in the fourth quarter of 2013, moderating from the 6.6% growth in the previous quarter. The slower growth was due to a decline in the sales of furniture and household equipment (-12%) and petroleum and petroleum products (-0.6%). For the full year, the domestic wholesale trade index grew by 5.2% reversing the 2.2% decline in 2012. On the other hand, the foreign wholesale trade index has increased by a slower pace of 5.6% in the fourth quarter, compared to the 7.7% expansion in the preceding quarter. The slowdown was due to a fall in the sales of telecommunication equipment and computer (-3.8%) and petroleum and petroleum products (-2.5%). For the full year, the growth of the foreign wholesale trade index moderated slightly to 8.6% from 9.1% in the previous year.

In the fourth quarter of 2013, retail sales volume fell by 6.2%, extending the 5.6% decline in the previous quarter. Excluding motor vehicles, retail sales volume increased by 0.4%, a slower pace of expansion as compared to the 1.6% gain in the preceding quarter. The sales volume of motor vehicles fell by 33% in the fourth quarter of 2013, extending the 32% decline in the previous quarter. Meanwhile, the sales of several discretionary items also fell in the fourth quarter of 2013. For instance, the sales of telecommunications apparatus and computers fell by 12%, while the sales of furniture and household equipment declined by 5.4%.

For the full year, retail sales volume contracted by 4.3%, a reversal from the 1.3% expansion in 2012. Excluding motor vehicle sales, the retail sales volume grew by 1.1% in 2013, slower than the 1.7% increase in 2012. Watches and jewellery recorded the largest increase (11%) in sales in 2013, followed by optical goods and book (3%) and medical goods and toiletries (3%). By contrast, the sales of telecommunications apparatus and computer (-7.3%), furniture and household equipment (-4.2%) and petrol service stations (-1.4) declined in 2013.

OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH


CREDIT RISK EVALUATION & RECOMMENDATION

 

 

Incorporated in 2004, the Subject is a Private Limited company, focusing on wholesale of electronic components. Having been in the industry for over a decade, the Subject has achieved a certain market share and has built up a satisfactory reputation in the market. It should have received supports from its regular customers. Having strong support from its shareholder has enabled the Subject to remain competitive despite the challenging business environment. We noted that the issued and paid up capital of the Subject stands at USD 752,645. However, with a strong backing from its shareholders, the Subject enjoys timely financial assistance should the needs arise.

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. Return on shareholders' funds of the Subject was at an acceptable range which indicated that the management was efficient in utilising its funds to generate income. Due to its weak liquidity position, the Subject may face working capital deficiency in meeting its short term financial obligations if no fresh capital are injected into the Subject. Being a lowly geared company, the Subject is exposed to low financial risk as it is mainly dependent on its internal funds to finance its business needs. 

Without a strong assets backing, the Subject may face difficulties in getting loans for its future expansion and continued growth. 


Overall, the Subject's payment habit is good as the Subject has a good credit control and it could be taking advantage of the cash discounts while maintaining a good reputation with its creditors. 


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.

UNISPEC TECHNOLOGIES PTE. LTD.

 

Financial Year End

2014-03-31

2013-03-31

2012-03-31

2011-03-31

2010-03-31

Months

12

12

12

12

12

Consolidated Account

Company

Company

Company

Company

Company

Audited Account

YES

YES

YES

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

YES

YES

YES

Financial Type

FULL

FULL

SUMMARY

SUMMARY

SUMMARY

Currency

SGD

SGD

SGD

SGD

SGD

TURNOVER

13,363,135

10,004,080

10,338,115

12,219,207

7,833,789

Other Income

27,674

1,707

-

-

-

----------------

----------------

----------------

----------------

----------------

Total Turnover

13,390,809

10,005,787

10,338,115

12,219,207

7,833,789

Costs of Goods Sold

(12,302,052)

(9,101,457)

-

-

-

----------------

----------------

----------------

----------------

----------------

Gross Profit

1,088,757

904,330

-

-

-

----------------

----------------

----------------

----------------

----------------

PROFIT/(LOSS) FROM OPERATIONS

144,816

78,977

138,997

104,755

6,758

----------------

----------------

----------------

----------------

----------------

PROFIT/(LOSS) BEFORE TAXATION

144,816

78,977

138,997

104,755

6,758

Taxation

(4,256)

(15,620)

(20,160)

(8,569)

(287)

----------------

----------------

----------------

----------------

----------------

PROFIT/(LOSS) AFTER TAXATION

140,560

63,357

118,837

96,186

6,471

----------------

----------------

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

272,539

209,182

124,742

28,556

22,085

Prior year adjustment

-

-

(34,397)

-

-

----------------

----------------

----------------

----------------

----------------

As restated

272,539

209,182

90,345

28,556

22,085

----------------

----------------

----------------

----------------

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

413,099

272,539

209,182

124,742

28,556

DIVIDENDS - Ordinary (paid & proposed)

(200,000)

-

-

-

-

----------------

----------------

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

213,099

272,539

209,182

124,742

28,556

=============

=============

=============

=============

=============

INTEREST EXPENSE (as per notes to P&L)

Trust receipts

6,382

-

-

-

-

Others

7,973

21,135

-

-

-

----------------

----------------

----------------

----------------

----------------

14,355

21,135

-

-

-

=============

=============

-

-

-

DEPRECIATION (as per notes to P&L)

8,500

-

-

-

-

----------------

----------------

----------------

----------------

----------------

8,500

-

-

-

-

=============

 

 

 

 

BALANCE SHEET

 

UNISPEC TECHNOLOGIES PTE. LTD.

 

ASSETS EMPLOYED:

FIXED ASSETS

17,002

-

-

-

-

----------------

----------------

----------------

----------------

----------------

TOTAL LONG TERM ASSETS

17,002

-

-

-

-

Stocks

2,184,837

1,534,398

-

-

-

Trade debtors

797,422

496,458

-

-

-

Other debtors, deposits & prepayments

291,813

88,284

-

-

-

Short term deposits

100,000

-

-

-

-

Cash & bank balances

60,419

1,629

-

-

-

----------------

----------------

----------------

----------------

----------------

TOTAL CURRENT ASSETS

3,434,491

2,120,769

2,125,534

1,703,615

1,066,158

----------------

----------------

----------------

----------------

----------------

TOTAL ASSET

3,451,493

2,120,769

2,125,534

1,703,615

1,066,158

=============

=============

=============

=============

=============

CURRENT LIABILITIES

Trade creditors

236,912

989

-

-

-

Other creditors & accruals

618,169

346,242

-

-

-

Bank overdraft

435,696

462,914

-

-

-

Amounts owing to related companies

762,000

433,526

-

-

-

Provision for taxation

7,239

4,459

-

-

-

Other liabilities

575,388

-

-

-

-

----------------

----------------

----------------

----------------

----------------

TOTAL CURRENT LIABILITIES

2,635,404

1,248,130

1,121,539

990,123

284,957

----------------

----------------

----------------

----------------

----------------

NET CURRENT ASSETS/(LIABILITIES)

799,087

872,639

1,003,995

713,492

781,201

----------------

----------------

----------------

----------------

----------------

TOTAL NET ASSETS

816,089

872,639

1,003,995

713,492

781,201

=============

=============

=============

=============

=============

SHARE CAPITAL

Ordinary share capital

600,100

600,100

752,645

752,645

752,645

----------------

----------------

----------------

----------------

----------------

TOTAL SHARE CAPITAL

600,100

600,100

752,645

752,645

752,645

Retained profit/(loss) carried forward

213,099

272,539

209,182

124,742

28,556

Others

-

-

-

(163,895)

-

----------------

----------------

----------------

----------------

----------------

TOTAL RESERVES

213,099

272,539

209,182

(39,153)

28,556

----------------

----------------

----------------

----------------

----------------

SHAREHOLDERS' FUNDS/EQUITY

813,199

872,639

961,827

713,492

781,201

Deferred taxation

2,890

-

-

-

-

----------------

----------------

----------------

----------------

----------------

TOTAL LONG TERM LIABILITIES

2,890

-

42,168

-

-

----------------

----------------

----------------

----------------

----------------

816,089

872,639

1,003,995

713,492

781,201

=============

=============

=============

=============

=============

 

 

 

FINANCIAL RATIO

 

UNISPEC TECHNOLOGIES PTE. LTD.

 

TYPES OF FUNDS

Cash

160,419

1,629

-

-

-

Net Liquid Funds

(275,277)

(461,285)

-

-

-

Net Liquid Assets

(1,385,750)

(661,759)

1,003,995

713,492

781,201

Net Current Assets/(Liabilities)

799,087

872,639

1,003,995

713,492

781,201

Net Tangible Assets

816,089

872,639

1,003,995

713,492

781,201

Net Monetary Assets

(1,388,640)

(661,759)

961,827

713,492

781,201

BALANCE SHEET ITEMS

Total Borrowings

435,696

462,914

-

-

-

Total Liabilities

2,638,294

1,248,130

1,163,707

990,123

284,957

Total Assets

3,451,493

2,120,769

2,125,534

1,703,615

1,066,158

Net Assets

816,089

872,639

1,003,995

713,492

781,201

Net Assets Backing

813,199

872,639

961,827

713,492

781,201

Shareholders' Funds

813,199

872,639

961,827

713,492

781,201

Total Share Capital

600,100

600,100

752,645

752,645

752,645

Total Reserves

213,099

272,539

209,182

(39,153)

28,556

LIQUIDITY (Times)

Cash Ratio

0.06

0.00

-

-

-

Liquid Ratio

0.47

0.47

-

-

-

Current Ratio

1.30

1.70

1.90

1.72

3.74

WORKING CAPITAL CONTROL (Days)

Stock Ratio

60

56

-

-

-

Debtors Ratio

22

18

-

-

-

Creditors Ratio

7

0

-

-

-

SOLVENCY RATIOS (Times)

Gearing Ratio

0.54

0.53

-

-

-

Liabilities Ratio

3.24

1.43

1.21

1.39

0.36

Times Interest Earned Ratio

11.09

4.74

-

-

-

Assets Backing Ratio

1.36

1.45

1.33

0.95

1.04

PERFORMANCE RATIO (%)

Operating Profit Margin

1.08

0.79

1.34

0.86

0.09

Net Profit Margin

1.05

0.63

1.15

0.79

0.08

Return On Net Assets

19.50

11.47

13.84

14.68

0.87

Return On Capital Employed

12.72

7.50

13.84

14.68

0.87

Return On Shareholders' Funds/Equity

17.28

7.26

12.36

13.48

0.83

Dividend Pay Out Ratio (Times)

1.42

0.00

-

-

-

NOTES TO ACCOUNTS

Contingent Liabilities

0

0




 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.84

UK Pound

1

Rs.100.65

Euro

1

Rs.72.88

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

SHG

               

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.