|
Report No. : |
322703 |
|
Report Date : |
18.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
POS-SEA PTE. LTD. |
|
|
|
|
Registered Office : |
3, International Business Park, 03-17, Nordic European Centre, 609927 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
01.06.2009 |
|
|
|
|
Com. Reg. No.: |
200909776-N |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Wholesale of Metals and Metal Ores Except General Hardware (EG Steel
Pipes) |
|
|
|
|
No. of Employee : |
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 : |
Slow but correct |
|
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. |
: |
200909776-N |
|
COMPANY NAME |
: |
POS-SEA PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
01/06/2009 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
3, INTERNATIONAL BUSINESS PARK, 03-17,
NORDIC EUROPEAN CENTRE, 609927, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
3 INTERNATIONAL BUSINESS PARK 03-17 NORDIC
EUROPEAN CENTRE, 609927, SINGAPORE. |
|
TEL.NO. |
: |
65-62658949 |
|
FAX.NO. |
: |
65-62650949 |
|
CONTACT PERSON |
: |
SHIN JONG SIK ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
WHOLESALE OF METALS AND METAL ORES EXCEPT
GENERAL HARDWARE (EG STEEL PIPES) |
|
ISSUED AND PAID UP CAPITAL |
: |
1,510,000.00 ORDINARY SHARE, OF A VALUE OF
USD 1,510,000.00 |
|
SALES |
: |
USD 111,832,477 [2013] |
|
NET WORTH |
: |
USD 2,688,857 [2013] |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
SATISFACTORY |
|
PAYMENT |
: |
SLOW BUT CORRECT |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
HISTORY/
BACKGROUND
|
The Subject is a private
limited company and is allowed to have a minimum of one and a maximum of
forty-nine shareholders. As a private limited company, the Subject must have at
least two directors. A private limited company is a separate legal entity from
its shareholders. As a separate legal entity, the Subject is capable of owning
assets, entering into contracts, sue or be sued by other companies. The
liabilities of the shareholders are to the extent of the equity they have taken
up and the creditors cannot claim on shareholders' personal assets even if the
Subject is insolvent. The Subject is governed by the Companies Act and the
company must file its annual returns, together with its financial statements
with the Registrar of Companies.
The Subject is
principally engaged in the (as a / as an) wholesale of metals and metal ores
except general hardware (eg steel pipes).
Share Capital
History
|
Date |
Issue & Paid
Up Capital |
|
23/03/2015 |
USD 1,510,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
POSCO PROCESSING & SERVICE CO., LTD. |
POSTEEL TOWER, 735-3, YEOKSAMDONG, GANGNAM-GU, SEOUL, KOREA. |
T09UF1635 |
1,020,000.00 |
67.55 |
|
HG METAL MANUFACTURING LIMITED |
15, JURONG PORT ROAD, 619119, SINGAPORE. |
198802660D |
490,000.00 |
32.45 |
|
--------------- |
------ |
|||
|
1,510,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are shown
as follow:
|
Local No |
Country |
Company |
(%) |
As At |
|
199700510N |
SINGAPORE |
NIHO (SINGAPORE) PTE LTD |
18.33 |
23/03/2015 |
|
DIRECTOR 1
|
Name Of Subject |
: |
SHIN JONG SIK |
|
Address |
: |
UNIT 113-703, 29, HAKDONGRO, 68GIL, GANGNAM-GU, SEOUL, KOREA. |
|
IC / PP No |
: |
F5564597M |
|
Nationality |
: |
KOREAN |
|
Date of Appointment |
: |
01/06/2009 |
DIRECTOR 2
|
Name Of Subject |
: |
FOO SEY LIANG |
|
Address |
: |
21, JALAN MALU-MALU, SEMBAWANG SPRINGS ESTATE, 769638, SELANGOR,
SINGAPORE. |
|
IC / PP No |
: |
S6930226B |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
25/04/2014 |
DIRECTOR 3
|
Name Of Subject |
: |
LEE KWANG WOO |
|
Address |
: |
7, ONE-NORTH GATEWAY, 06-18 , ONE-NORTH RESIDENCES, 138642, SINGAPORE. |
|
IC / PP No |
: |
G3112255X |
|
Nationality |
: |
KOREAN |
|
Date of Appointment |
: |
16/12/2014 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
LEE KWANG WOO |
|
Position |
: |
MANAGING DIRECTOR |
|
|
2) |
Name of Subject |
: |
SHIN JONG SIK |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
UHY LEE SENG CHAN & CO. |
|
Auditor' Address |
: |
N/A |
|
Auditor |
: |
UHY LEE SENG CHAN & CO. |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
KOH GEOK HOON |
|
IC / PP No |
: |
S0188289I |
|
|
Address |
: |
12, TAI HWAN TERRACE, TAI HWAN GARDEN, 555248, SINGAPORE. |
|
|
2) |
Company Secretary |
: |
KOH EE KOON |
|
IC / PP No |
: |
S1246901B |
|
|
Address |
: |
104, BEDOK RESERVOIR ROAD, 04-362, 470104, 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 refused to disclose its suppliers.
The Subject refused to provide any name of trade/service supplier and we are unable
to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
X |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
|
CLIENTELE |
|
|
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its clientele.
OPERATIONS
|
|
Goods Traded |
: |
METALS AND METAL ORES EXCEPT GENERAL HARDWARE (EG STEEL PIPES) |
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) wholesale of metals
and metal ores except general hardware (eg steel pipes).
The Subject refused to disclose its operation.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62658949 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
3 INTERNATIONAL BUSINESS PARK #03-17 NORDIC EUROPEAN CENTRE SINGAPORE |
|
Current Address |
: |
3 INTERNATIONAL BUSINESS PARK 03-17 NORDIC EUROPEAN CENTRE, 609927,
SINGAPORE. |
|
Match |
: |
NO |
Other Investigations
We contacted one of the staff from the Subject and she only provided limited
information.
She refused to disclose the number of employees and bankers.
The address provided is incomplete.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2009 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2009 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
21.84% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
27.14% |
] |
|
|
The Subject's turnover increased steadily as the demand for its
products / services increased due to the goodwill built up over the years.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 |
: |
Nil |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
26 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
As the Subject is a service oriented company, the Subject does not
need to keep 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 |
: |
Favourable |
[ |
1.30 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.30 Times |
] |
|
|
A minimum liquid ratio of 1 should be maintained by the Subject in order
to assure its creditors of its ability to meet short term obligations and the
Subject was in a good liquidity position. Thus, we believe the Subject is
able to meet all its short term obligations as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Nil |
[ |
0.00 Times |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
1.75 Times |
] |
|
|
The Subject's interest cover was nil as it did not pay any interest during
the year. 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 : |
||||||
|
Generally, the Subject's performance has improved with higher turnover
and profit. The Subject was in good liquidity position with its total current
liabilities well covered by its total current assets. With its current net
assets, the Subject should be able to repay its short term obligations. The
Subject did not make any interest payment during the year. The Subject was
dependent on its shareholders' funds to finance its business needs. 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 : STRONG |
||||||
|
Major Economic Indicators : |
2009 |
2010 |
2011 |
2012 |
2013 |
|
|
|||||
|
Population (Million) |
4.98 |
5.08 |
5.18 |
5.31 |
5.40 |
|
Gross Domestic Products ( % ) |
(0.8) |
14.5 |
4.9 |
1.3 |
3.7 |
|
Consumer Price Index |
0.6 |
2.8 |
5.2 |
4.6 |
2.4 |
|
Total Imports (Million) |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
|
Total Exports (Million) |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
|
|
|||||
|
Unemployment Rate (%) |
3.2 |
2.2 |
2.1 |
2.0 |
1.9 |
|
Tourist Arrival (Million) |
9.68 |
11.64 |
13.17 |
14.49 |
15.46 |
|
Hotel Occupancy Rate (%) |
75.8 |
85.6 |
86.5 |
86.4 |
86.3 |
|
Cellular Phone Subscriber (Million) |
1.37 |
1.43 |
1.50 |
1.52 |
1.97 |
|
|
|||||
|
Registration of New Companies (No.) |
26,414 |
29,798 |
32,317 |
31,892 |
37,288 |
|
Registration of New Companies (%) |
4.3 |
12.8 |
8.5 |
(1.3) |
9.8 |
|
Liquidation of Companies (No.) |
22,393 |
15,126 |
19,005 |
17,218 |
17,369 |
|
Liquidation of Companies (%) |
113.4 |
(32.5) |
25.6 |
9.4 |
(5.3) |
|
|
|||||
|
Registration of New Businesses (No.) |
26,876 |
23,978 |
23,494 |
24,788 |
22,893 |
|
Registration of New Businesses (%) |
8.15 |
(10.78) |
2.02 |
5.51 |
1.70 |
|
Liquidation of Businesses (No.) |
23,552 |
24,211 |
23,005 |
22,489 |
22,598 |
|
Liquidation of Businesses (%) |
11.4 |
2.8 |
(5) |
(2.2) |
0.5 |
|
|
|||||
|
Bankruptcy Orders (No.) |
2,058 |
1,537 |
1,527 |
1,748 |
1,992 |
|
Bankruptcy Orders (%) |
(11.5) |
(25.3) |
(0.7) |
14.5 |
14.0 |
|
Bankruptcy Discharges (No.) |
3,056 |
2,252 |
1,391 |
1,881 |
2,584 |
|
Bankruptcy Discharges (%) |
103.7 |
(26.3) |
(38.2) |
35.2 |
37.4 |
|
|
|||||
|
INDUSTRIES ( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production of Principal Crops |
3.25 |
(0.48) |
4.25 |
3.64 |
- |
|
Fish Supply & Wholesale |
(1.93) |
(10.5) |
12.10 |
(0.5) |
- |
|
|
|||||
|
Manufacturing * |
71.5 |
92.8 |
100.0 |
100.3 |
102.0 |
|
Food, Beverages & Tobacco |
90.4 |
96.4 |
100.0 |
103.5 |
103.5 |
|
Textiles |
145.9 |
122.1 |
100.0 |
104.0 |
87.1 |
|
Wearing Apparel |
211.0 |
123.3 |
100.0 |
92.1 |
77.8 |
|
Leather Products & Footwear |
79.5 |
81.8 |
100.0 |
98.6 |
109.8 |
|
Wood & Wood Products |
101.4 |
104.0 |
100.0 |
95.5 |
107.4 |
|
Paper & Paper Products |
95.4 |
106.1 |
100.0 |
97.4 |
103.2 |
|
Printing & Media |
100.9 |
103.5 |
100.0 |
93.0 |
86.1 |
|
Crude Oil Refineries |
96.4 |
95.6 |
100.0 |
99.4 |
93.5 |
|
Chemical & Chemical Products |
80.3 |
97.6 |
100.0 |
100.5 |
104.1 |
|
Pharmaceutical Products |
49.1 |
75.3 |
100.0 |
109.7 |
107.2 |
|
Rubber & Plastic Products |
101.2 |
112.3 |
100.0 |
96.5 |
92.9 |
|
Non-metallic Mineral |
91.9 |
92.5 |
100.0 |
98.2 |
97.6 |
|
Basic Metals |
92.6 |
102.2 |
100.0 |
90.6 |
76.5 |
|
Fabricated Metal Products |
90.8 |
103.6 |
100.0 |
104.3 |
105.1 |
|
Machinery & Equipment |
57.3 |
78.5 |
100.0 |
112.9 |
114.5 |
|
Electrical Machinery |
86.8 |
124.1 |
100.0 |
99.3 |
108.5 |
|
Electronic Components |
85.2 |
113.6 |
100.0 |
90.6 |
94.3 |
|
Transport Equipment |
96.0 |
94.0 |
100.0 |
106.3 |
107.5 |
|
|
|||||
|
Construction |
(36.9) |
14.20 |
20.50 |
28.70 |
- |
|
Real Estate |
1.4 |
21.3 |
25.4 |
31.9 |
- |
|
|
|||||
|
Services |
|||||
|
Electricity, Gas & Water |
1.70 |
4.00 |
7.00 |
6.30 |
- |
|
Transport, Storage & Communication |
3.90 |
12.80 |
7.40 |
5.30 |
- |
|
Finance & Insurance |
(16.4) |
(0.4) |
8.90 |
0.50 |
- |
|
Government Services |
4.50 |
9.70 |
6.90 |
6.00 |
- |
|
Education Services |
0.10 |
(0.9) |
(1.4) |
0.30 |
- |
|
|
|||||
|
* Based on Index of Industrial Production (2011 = 100) |
INDUSTRY
ANALYSIS
|
|
|
INDUSTRY : |
TRADING |
|
The wholesale and retail trade sectors have expanded by 2.0% in the
third quarter of 2014, extending the 1.8 per cent growth in the previous
quarter. In 2013, the wholesale and retail sector expanded by 5.0%, after declining
by 1.4% the year before. Growth of the sector was driven by the wholesale
trade segment. |
|
|
The domestic wholesale trade index has increased by 3.2% in the fourth
quarter of 2013, moderating from the 6.6% growth in the previous quarter. The
slower growth was due to a decline in the sales of furniture and household
equipment (-12%) and petroleum and petroleum products (-0.6%). For the full
year, the domestic wholesale trade index grew by 5.2% reversing the 2.2%
decline in 2012. On the other hand, the foreign wholesale trade index has
increased by a slower pace of 5.6% in the fourth quarter, compared to the
7.7% expansion in the preceding quarter. The slowdown was due to a fall in
the sales of telecommunication equipment and computer (-3.8%) and petroleum
and petroleum products (-2.5%). For the full year, the growth of the foreign
wholesale trade index moderated slightly to 8.6% from 9.1% in the previous
year. |
|
|
In the fourth quarter of 2013, retail sales volume fell by 6.2%, extending
the 5.6% decline in the previous quarter. Excluding motor vehicles, retail
sales volume increased by 0.4%, a slower pace of expansion as compared to the
1.6% gain in the preceding quarter. The sales volume of motor vehicles fell
by 33% in the fourth quarter of 2013, extending the 32% decline in the
previous quarter. Meanwhile, the sales of several discretionary items also
fell in the fourth quarter of 2013. For instance, the sales of
telecommunications apparatus and computers fell by 12%, while the sales of
furniture and household equipment declined by 5.4%. |
|
|
For the full year, retail sales volume contracted by 4.3%, a reversal
from the 1.3% expansion in 2012. Excluding motor vehicle sales, the retail
sales volume grew by 1.1% in 2013, slower than the 1.7% increase in 2012.
Watches and jewellery recorded the largest increase (11%) in sales in 2013,
followed by optical goods and book (3%) and medical goods and toiletries
(3%). By contrast, the sales of telecommunications apparatus and computer
(-7.3%), furniture and household equipment (-4.2%) and petrol service
stations (-1.4) declined in 2013. |
|
|
OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS. |
|
POS-SEA PTE.
LTD. |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
|
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 |
USD |
USD |
SGD |
SGD |
SGD |
|
TURNOVER |
111,832,477 |
79,905,017 |
71,074,295 |
50,966,350 |
7,886,658 |
|
Other Income |
- |
11,820 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
111,832,477 |
79,916,837 |
71,074,295 |
50,966,350 |
7,886,658 |
|
Costs of Goods Sold |
(109,206,760) |
(77,848,887) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
2,625,717 |
2,067,950 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
730,289 |
551,597 |
351,048 |
217,332 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
730,289 |
551,597 |
351,048 |
217,332 |
- |
|
Taxation |
(143,161) |
(89,068) |
(27,005) |
(17,084) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
587,128 |
462,529 |
324,044 |
200,248 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
741,729 |
279,200 |
1,050,284 |
850,036 |
850,036 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
741,729 |
279,200 |
1,050,284 |
850,036 |
850,036 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
1,328,857 |
741,729 |
1,374,328 |
1,050,284 |
850,036 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(150,000) |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
1,178,857 |
741,729 |
1,374,328 |
1,050,284 |
850,036 |
|
============= |
============= |
============= |
============= |
============= |
|
BALANCE
SHEET
|
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
89,986 |
73,212 |
486,397 |
505,832 |
- |
|
Investments |
119,709 |
399,709 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
119,709 |
399,709 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
209,695 |
472,921 |
486,397 |
505,832 |
- |
|
Stocks |
- |
4,223,834 |
- |
- |
- |
|
Trade debtors |
7,820,719 |
3,510,435 |
- |
- |
- |
|
Other debtors, deposits & prepayments |
467,077 |
1,456,522 |
- |
- |
- |
|
Short term deposits |
20,747 |
20,747 |
- |
- |
- |
|
Amount due from related companies |
516,814 |
79,482 |
- |
- |
- |
|
Cash & bank balances |
1,887,873 |
227,794 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
10,713,230 |
9,518,814 |
4,045,834 |
2,097,462 |
2,859,807 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
10,922,925 |
9,991,735 |
4,532,231 |
2,603,294 |
2,859,807 |
|
============= |
============= |
============= |
============= |
============= |
|
|
Other creditors & accruals |
355,893 |
2,459,013 |
- |
- |
- |
|
Short term borrowings/Term loans |
4,700,000 |
4,971,043 |
- |
- |
- |
|
Amounts owing to holding company |
3,034,095 |
234,460 |
- |
- |
- |
|
Provision for taxation |
142,600 |
72,800 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
8,232,588 |
7,737,316 |
2,253,031 |
43,010 |
499,771 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
2,480,642 |
1,781,498 |
1,792,803 |
2,054,452 |
2,360,036 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
2,690,337 |
2,254,419 |
2,279,200 |
2,560,284 |
2,360,036 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
1,510,000 |
1,510,000 |
1,893,842 |
1,510,000 |
1,510,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
1,510,000 |
1,510,000 |
1,893,842 |
1,510,000 |
1,510,000 |
|
Retained profit/(loss) carried forward |
1,178,857 |
741,729 |
1,374,328 |
1,050,284 |
850,036 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
1,178,857 |
741,729 |
1,374,328 |
1,050,284 |
850,036 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
2,688,857 |
2,251,729 |
2,279,200 |
2,560,284 |
2,360,036 |
|
Deferred taxation |
1,480 |
2,690 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
1,480 |
2,690 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
2,690,337 |
2,254,419 |
2,279,200 |
2,560,284 |
2,360,036 |
|
|
============= |
============= |
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
|
TYPES OF FUNDS |
|||||
|
Cash |
1,908,620 |
248,541 |
- |
- |
- |
|
Net Liquid Funds |
1,908,620 |
248,541 |
- |
- |
- |
|
Net Liquid Assets |
2,480,642 |
(2,442,336) |
1,792,803 |
2,054,452 |
2,360,036 |
|
Net Current Assets/(Liabilities) |
2,480,642 |
1,781,498 |
1,792,803 |
2,054,452 |
2,360,036 |
|
Net Tangible Assets |
2,690,337 |
2,254,419 |
2,279,200 |
2,560,284 |
2,360,036 |
|
Net Monetary Assets |
2,479,162 |
(2,445,026) |
1,792,803 |
2,054,452 |
2,360,036 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
4,700,000 |
4,971,043 |
- |
- |
- |
|
Total Liabilities |
8,234,068 |
7,740,006 |
2,253,031 |
43,010 |
499,771 |
|
Total Assets |
10,922,925 |
9,991,735 |
4,532,231 |
2,603,294 |
2,859,807 |
|
Net Assets |
2,690,337 |
2,254,419 |
2,279,200 |
2,560,284 |
2,360,036 |
|
Net Assets Backing |
2,688,857 |
2,251,729 |
2,279,200 |
2,560,284 |
2,360,036 |
|
Shareholders' Funds |
2,688,857 |
2,251,729 |
3,268,170 |
2,560,284 |
2,360,036 |
|
Total Share Capital |
1,510,000 |
1,510,000 |
1,893,842 |
1,510,000 |
1,510,000 |
|
Total Reserves |
1,178,857 |
741,729 |
1,374,328 |
1,050,284 |
850,036 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.23 |
0.03 |
- |
- |
- |
|
Liquid Ratio |
1.30 |
0.68 |
- |
- |
- |
|
Current Ratio |
1.30 |
1.23 |
1.80 |
48.77 |
5.72 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
0 |
19 |
- |
- |
- |
|
Debtors Ratio |
26 |
16 |
- |
- |
- |
|
Creditors Ratio |
0 |
0 |
- |
- |
- |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
1.75 |
2.21 |
- |
- |
- |
|
Liabilities Ratio |
3.06 |
3.44 |
0.69 |
0.02 |
0.21 |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
- |
- |
- |
|
Assets Backing Ratio |
1.78 |
1.49 |
1.20 |
1.70 |
1.56 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
0.65 |
0.69 |
0.49 |
0.43 |
- |
|
Net Profit Margin |
0.53 |
0.58 |
0.46 |
0.39 |
- |
|
Return On Net Assets |
27.14 |
24.47 |
15.40 |
8.49 |
- |
|
Return On Capital Employed |
27.14 |
24.47 |
15.40 |
8.49 |
- |
|
Return On Shareholders' Funds/Equity |
21.84 |
20.54 |
14.22 |
7.82 |
- |
|
Dividend Pay Out Ratio (Times) |
0.26 |
0.00 |
- |
- |
- |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.58 |
|
|
1 |
Rs.100.30 |
|
Euro |
1 |
Rs.72.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ASH |
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.