MIRA INFORM REPORT

 

 

Report No. :

321895

Report Date :

16.05.2015

 

IDENTIFICATION DETAILS

 

Name :

GATEWAY GLOBAL PRIVATE LIMITED

 

 

Registered Office :

10, Jalan Harum, Oei Tiong Ham Park, 268483

 

 

Country :

Singapore

 

 

Financials (as on) :

31.08.2013

 

 

Date of Incorporation :

15.04.2010

 

 

Com. Reg. No.:

201008035-G

 

 

Legal Form :

Exempt Private

 

 

Line of Business :

Asset Management, Investment Holding

 

 

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 :

Poor

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 – 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.

:

201008035-G

COMPANY NAME

:

GATEWAY GLOBAL PRIVATE LIMITED

FORMER NAME

:

N/A

INCORPORATION DATE

:

15/04/2010

COMPANY STATUS

:

EXIST

LEGAL FORM

:

EXEMPT PRIVATE

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

10, JALAN HARUM, OEI TIONG HAM PARK, 268483, SINGAPORE.

BUSINESS ADDRESS

:

10, JALAN HARUM, OEI TIONG HAM PARK, 268483, SINGAPORE.

TEL.NO.

:

65-64071153

FAX.NO.

:

N/A

CONTACT PERSON

:

TARUN GANDHI ( DIRECTOR )

PRINCIPAL ACTIVITY

:

ASSET MANAGEMENT, INVESTMENT HOLDING

ISSUED AND PAID UP CAPITAL

:

105,001.00 ORDINARY SHARE, OF A VALUE OF SGD 105,001.00 

SALES

:

USD 115,306,591 [2014]

NET WORTH

:

USD (47,256) [2014]

STAFF STRENGTH

:

N/A

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

POOR

PAYMENT

:

SLOW

MANAGEMENT CAPABILITY

:

WEAK

COMMERCIAL RISK

:

N/A

CURRENCY EXPOSURE

:

N/A

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

MARGINAL GROWTH

 

 

HISTORY / BACKGROUND

 

The Subject is an exempt private company whose shares are not held by any corporate body and has no more than 20 shareholders who are all natural persons. An exempt company is a type of private limited company. 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, suing or be sued by other companies. An exempt private company with an annual turnover of less than SGD5 million are exempted from statutory auditing requirements. Instead of filing audited annual accounts, the Subject has to file in a document duly signed by its director in charge of its finance and the company secretary stating that the Subject is able to meet all its obligations as and when they fall due. The Subject is not required to have their accounts audited. However, the Subject will prepare unaudited accounts for purposes of AGMs and filing with Registry Office if it is unable to meet all its obligations as and when they fall due .

The Subject is principally engaged in the (as a / as an) asset management, investment holding.

Share Capital History

Date

Issue & Paid Up Capital

13/05/2015

SGD 105,001.00

 

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

Name

Address

IC/PP/Loc No

Shareholding

(%)

TARUN GANDHI +

10, JALAN HARUM, OEI TIONG HAM PARK, 268483, SINGAPORE.

S2653025C

105,000.00

100.00

KAVITA GANDHI

10, JALAN HARUM, OEI TIONG HAM PARK, 268483, SINGAPORE.

S2653026A

1.00

0.00

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

------

105,001.00

100.00

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

=====

+ Also Director

 

 

DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

SAAHIL GANDHI

Address

:

34/57, PUNJABI BAGH WE ST, NEW DELHI, 110026, INDIA.

IC / PP No

:

Z2012714

Nationality

:

INDIAN

Date of Appointment

:

13/02/2015

 

DIRECTOR 2

 

Name Of Subject

:

TARUN GANDHI

Address

:

10, JALAN HARUM, OEI TIONG HAM PARK, 268483, SINGAPORE.

IC / PP No

:

S2653025C

Nationality

:

SINGAPOREAN

Date of Appointment

:

15/04/2010



MANAGEMENT

 

 

 

1)

Name of Subject

:

TARUN GANDHI

Position

:

DIRECTOR

 

 

AUDITOR

 

Auditor

:

NACN INTERNATIONAL PAC

Auditor' Address

:

N/A

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

SHAMALA K RAJASINGHAM

IC / PP No

:

S7462206B

Address

:

63, TANAH MERAH KECHIL AVENUE, D'MANOR, 465659, SINGAPORE.

 

 

 

BANKING


No Banker found in our databank. 



ENCUMBRANCE (S)


No encumbrance was found in our databank at the time of investigation. 

 

 

LITIGATION CHECK AGAINST SUBJECT


* A check has been conducted in our databank againt the Subject whether the subject has been involved in any litigation.


No legal action was found in our databank.


No winding up petition was found in our databank.



PAYMENT RECORD

 

 

SOURCES OF RAW MATERIALS:

Local

:

N/A

Overseas

:

N/A


The Subject is a service provider. 

The Subject refused to provide any name of trade/service supplier and we are unable to conduct any trade enquiry. However, from financial historical data we conclude that :

OVERALL PAYMENT HABIT

Prompt 0-30 Days

[

]

Good 31-60 Days

[

]

Average 61-90 Days

[

]

Fair 91-120 Days

[

]

Poor >120 Days

[

X

]

 

 

CLIENTELE

 

Local

:

N/A

Overseas

:

N/A


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

 

 

OPERATIONS

 

Services

:

ASSET MANAGEMENT, INVESTMENT HOLDING

 

Branch

:

NO

Other Information:


The Subject is principally engaged in the (as a / as an) asset management, investment holding. 

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

:

65-64071153

Match

:

N/A

Address Provided by Client

:

10 JALAN HARUMOEI TIONG HAM PARK,268483,SINGAPORE

Current Address

:

10, JALAN HARUM, OEI TIONG HAM PARK, 268483, SINGAPORE.

Match

:

YES

 

Other Investigations


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

He refused to disclose the fax number, number of employees and bankers.

FINANCIAL ANALYSIS

 

 

Profitability

Turnover

:

Increased

[

79.76%

]

Profit/(Loss) Before Tax

:

Increased

[

216.34%

]

Return on Shareholder Funds

:

Unfavourable

[

(28.39%)

]

Return on Net Assets

:

Unfavourable

[

(29.05%)

]

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

:

Nil

[

0 Days

]

Debtor Ratio

:

Unfavourable

[

95 Days

]

Creditors Ratio

:

Unfavourable

[

91 Days

]

As the Subject is a service oriented company, the Subject does not need to keep 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

[

0.98 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

:

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

 

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 :

ECONOMY

The Ministry of Trade and Industry (MTI) announced that it expects the Singapore economy to grow by around 3.0% in 2014, and by 2.0 to 4.0% in 2015. Besides that in 2013, the economy grew by 4.1%, higher than the 1.9% growth in 2012. This was mainly due to strong growth in the services producing industries, particularly the finance & insurance, as well as wholesale & retail trade sectors.

In 2013, all sectors contributed positively to growth. Finance & insurance was the largest contributor (1.2 percentage-points), followed by wholesale & retail trade (0.8 percentage-points) and business services (0.6 percentage-points). Growth in the manufacturing sector was improved by 1.7%, on the back of strong growth in the electronics and transport engineering clusters. By contrast, growth in the construction sector moderated to 5.9%, from 8.6% in 2012.

Growth in the services producing industries picked up to 5.3% in 2013, from 2.0% in 2012. This was mainly due to stronger growth in the finance & insurance and wholesale & retail trade sectors. The finance & insurance sector grew by 11%, up from 1.3% in the previous year. The wholesale & retail trade sector has expanded by 5.0%, after declining by 1.4% the year before.

For the whole of 2013, growth in total demand was 3.1%, similar to the pace of growth in 2012. External demand was the key contributor to total demand growth, accounting for 2.7 percentage-points, or almost 90%, of the increase. External demand grew at a faster pace of 3.6%, compared to the 1.4% growth in 2012. This was supported mainly by growth in the exports of machinery & transport equipment, miscellaneous manufactures, and transport services. Total domestic demand rose by a modest 1.7%, following the 8.6% increase in 2012. The slower growth in total domestic demand was primarily due to the decline in gross fixed capital formation (GFCF).

For the full year, total consumption expenditure grew by 4.4% in 2013, faster than the 2.8% growth in 2012. Public consumption expenditure increased by 11%, a strong rebound from the 1.9% decline in 2012. Private consumption expenditure recorded gains of 2.7%, moderating from the 4.1% increase in the preceding year.

Furthermore, in the first three quarters of 2014, the Singapore economy grew by 3.3% on a year-on-year basis. For the rest of the year, growth is expected to ease slightly on a year-on-year basis, in line with a projected slowdown in the global economy. Externally-oriented sectors such as the manufacturing and transportation & storage sectors are likely to slow, whereas growth in the construction sector will continue to be weighed down by the weakness in private sector construction activities. On the other hand, domestically-oriented sectors like business services are likely to remain resilient.

Additionally, the labour market in Singapore is expected to remain tight in 2015, with low unemployment and rising vacancy rates. Against this global and domestic backdrop, the growth outlook for the Singapore economy remains modest. In tandem with the expected pick-up in external demand, externally-oriented sectors such as manufacturing, wholesale trade and finance & insurance are likely to provide support to growth. While some domestically-oriented sectors such as businesses services are expected to remain resilient, labour-intensive ones like construction, retail and food services may see their growth weighed down by labour constraints.

OVERALL INDUSTRY OUTLOOK : MARGINAL GROWTH



CREDIT RISK EVALUATION & RECOMMENDATION

 

 

Incorporated in 2010, the Subject is an Exempt Private company, focusing on asset management, investment holding. The Subject has been in business for less than 5 years and it has slowly been building up contact with its clients while competing in the industry. However, it has yet to enjoy a stable market shares as it need to compete many well established players in the same field. With an issued and paid up capital of SGD 105,001 contributed by individual shareholders, the Subject may face difficulties in its attempt to further expand its business in the future. Thus, the Subject should put more efforts on its business to gain higher market share while competing aggressively in the market. 


Overall, we regard that the Subject's management capability is weak. Without capable management, the Subject is unlikely to be successful and often contribute to unacceptable levels of accountability. Weak management can affect productivity, profitability, sales growth and ultimately can result in the failure of a business. 


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 managed to maintain an adequate liquidity level, indicating that the Subject has the ability to meet its financial obligations. Being a zero geared company, the Subject virtually has no financial risk as it is mainly dependent on its internal funds to finance its business. The Subject's unfavourable financial performance over the years has wiped out its shareholders' funds to a deficit of USD -47,256. Therefore, the Subject as a going concern is much dependent on its ability to generate sufficient cash flow and obtain additional financing to meet its future obligations. 


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


The Subject's overall payment habit is fair and this clearly implied a weak credit control of the Subject. 

The industry has reached its maturity stage and only enjoying a marginal growth. The steady growth of the country's economy will further enhance the industry activities. Thus, the Subject's future performance is very much depend on its marketing strategies in order to retain its position in the market. 

Based on the above unfavourable condition, we regard granting credit to the Subject to be quite risky. Hence, credit is not recommended.

 

 

PROFIT AND LOSS ACCOUNT

 

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS.

GATEWAY GLOBAL PRIVATE LIMITED

 

Financial Year End

2014-08-31

2013-08-31

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

115,306,591

64,146,328

Other Income

1,663

-

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

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

Total Turnover

115,308,254

64,146,328

Costs of Goods Sold

(115,206,839)

(64,050,354)

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

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

Gross Profit

101,415

95,974

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

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

PROFIT/(LOSS) FROM OPERATIONS

13,726

4,339

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

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

PROFIT/(LOSS) BEFORE TAXATION

13,726

4,339

Taxation

(311)

-

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

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

PROFIT/(LOSS) AFTER TAXATION

13,415

4,339

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

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

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

(144,640)

(148,979)

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

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

As restated

(144,640)

(148,979)

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

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

PROFIT AVAILABLE FOR APPROPRIATIONS

(131,225)

(144,640)

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

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

RETAINED PROFIT/(LOSS) CARRIED FORWARD

(131,225)

(144,640)

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

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

DEPRECIATION (as per notes to P&L)

878

-

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

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

878

-

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

 

BALANCE SHEET

 

 

GATEWAY GLOBAL PRIVATE LIMITED

 

ASSETS EMPLOYED:

FIXED ASSETS

2,381

2,009

Investment properties

547,578

-

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

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

TOTAL LONG TERM INVESTMENTS/OTHER ASSETS

547,578

-

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

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

TOTAL LONG TERM ASSETS

549,959

2,009

Trade debtors

30,133,382

5,705,183

Other debtors, deposits & prepayments

32,284

113,335

Short term deposits

578,497

960,610

Cash & bank balances

34,958

1,064,589

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

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

TOTAL CURRENT ASSETS

30,779,121

7,843,717

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

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

TOTAL ASSET

31,329,080

7,845,726

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

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

CURRENT LIABILITIES

Trade creditors

28,824,602

6,562,389

Other creditors & accruals

24,367

122,899

Amounts owing to director

2,527,367

1,221,109

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

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

TOTAL CURRENT LIABILITIES

31,376,336

7,906,397

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

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

NET CURRENT ASSETS/(LIABILITIES)

(597,215)

(62,680)

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

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

TOTAL NET ASSETS

(47,256)

(60,671)

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

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

SHARE CAPITAL

Ordinary share capital

83,969

83,969

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

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

TOTAL SHARE CAPITAL

83,969

83,969

Retained profit/(loss) carried forward

(131,225)

(144,640)

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

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

TOTAL RESERVES

(131,225)

(144,640)

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

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

SHAREHOLDERS' FUNDS/EQUITY

(47,256)

(60,671)

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

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

(47,256)

(60,671)

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

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

 

FINANCIAL RATIO

 

 

GATEWAY GLOBAL PRIVATE LIMITED

 

TYPES OF FUNDS

Cash

613,455

2,025,199

Net Liquid Funds

613,455

2,025,199

Net Liquid Assets

(597,215)

(62,680)

Net Current Assets/(Liabilities)

(597,215)

(62,680)

Net Tangible Assets

(47,256)

(60,671)

Net Monetary Assets

(597,215)

(62,680)

BALANCE SHEET ITEMS

Total Borrowings

0

0

Total Liabilities

31,376,336

7,906,397

Total Assets

31,329,080

7,845,726

Net Assets

(47,256)

(60,671)

Net Assets Backing

(47,256)

(60,671)

Shareholders' Funds

(47,256)

(60,671)

Total Share Capital

83,969

83,969

Total Reserves

(131,225)

(144,640)

LIQUIDITY (Times)

Cash Ratio

0.02

0.26

Liquid Ratio

0.98

0.99

Current Ratio

0.98

0.99

WORKING CAPITAL CONTROL (Days)

Stock Ratio

0

0

Debtors Ratio

95

32

Creditors Ratio

91

37

SOLVENCY RATIOS (Times)

Gearing Ratio

0.00

0.00

Liabilities Ratio

(663.97)

(130.32)

Times Interest Earned Ratio

0.00

0.00

Assets Backing Ratio

(0.56)

(0.72)

PERFORMANCE RATIO (%)

Operating Profit Margin

0.01

0.01

Net Profit Margin

0.01

0.01

Return On Net Assets

(29.05)

(7.15)

Return On Capital Employed

(29.05)

(7.15)

Return On Shareholders' Funds/Equity

(28.39)

(7.15)

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.63.57

UK Pound

1

Rs.100.30

Euro

1

Rs.72.37

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

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%)

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