|
Report No. : |
322668 |
|
Report Date : |
18.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
WPG SOUTH ASIA PTE. LTD. |
|
|
|
|
Formerly Known As : |
DA & DA ELECTRONICS PTE. LTD. |
|
|
|
|
Registered Office : |
16, Tai Seng Street, 05-00, 534138 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
20.09.2006 |
|
|
|
|
Com. Reg. No.: |
200613820-H |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Wholesale of Electronic Components |
|
|
|
|
No. of Employees : |
160 |
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. 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 |
|
REGISTRATION
NO. |
: |
200613820-H |
|
COMPANY
NAME |
: |
WPG
SOUTH ASIA PTE. LTD. |
|
FORMER
NAME |
: |
DA
& DA ELECTRONICS PTE. LTD. (02/07/2012) |
|
INCORPORATION
DATE |
: |
20/09/2006 |
|
COMPANY
STATUS |
: |
EXIST |
|
LEGAL
FORM |
: |
PRIVATE
LIMITED |
|
LISTED
STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
16,
TAI SENG STREET, 05-00, 534138, SINGAPORE. |
|
BUSINESS
ADDRESS |
: |
16,
TAI SENG STREET, 05- 00, 534138, SINGAPORE. |
|
TEL.NO. |
: |
65-64701198 |
|
FAX.NO. |
: |
N/A |
|
CONTACT
PERSON |
: |
CHAI
KIM YIN ( DIRECTOR ) |
|
PRINCIPAL
ACTIVITY |
: |
WHOLESALE
OF ELECTRONIC COMPONENTS |
|
ISSUED
AND PAID UP CAPITAL |
: |
7,633,600.00
ORDINARY SHARE, OF A VALUE OF SGD 7,633,600.00 |
|
SALES |
: |
USD
239,552,257 [2013] |
|
NET
WORTH |
: |
USD
5,811,524 [2013] |
|
STAFF
STRENGTH |
: |
160
[2014] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL
CONDITION |
: |
FAIR |
|
PAYMENT |
: |
FAIR |
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL
RISK |
: |
N/A |
|
CURRENCY
EXPOSURE |
: |
N/A |
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY
OUTLOOK |
: |
AVERAGE
GROWTH |
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.
The
immediate holding company of the Subject is WPG INTERNATIONAL (CI) LIMITED, a
company incorporated in CAYMAN ISLANDS.
Capital
History
|
Date |
Issue
& Paid Up Capital |
|
20/11/2014 |
SGD
7,633,600.00 |
The
major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
WPG
INTERNATIONAL (CI) LIMITED |
SCOTIA
CENTRE, P.O. BOX 2804, GEORGE TOWN, GRAND CAYMAN KY1- 1112, 4TH FLOOR, CAYMAN
ISLANDS. |
T10UF2371 |
7,633,600.00 |
100.00 |
|
--------------- |
------ |
|||
|
7,633,600.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
The
Subject's interest in other companies (Subsidiaries/Associates) are shown as
follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
THAILAND |
WPG
(THAILAND) CO., LIMITED |
100.00 |
31/12/2013 |
|
|
364053W |
MALAYSIA |
WPG
MALAYSIA SDN. BHD. |
100.00 |
31/12/2013 |
|
PHILIPPINES |
WPG
ELECTRONICS PHILIPPINES INC. |
100.00 |
31/12/2013 |
|
|
INDIA |
WPG
INDIA ELECTRONICS PVT. LTD. |
99.90 |
31/12/2013 |
DIRECTOR
1
|
Name
Of Subject |
: |
HUANG,
WEI-HSIANG @ SIMON HUANG |
|
Address |
: |
6F,
30, LANE 71, SECTION 1, HANGZHOU S. ROAD, ZHONGZHENG DISTRICT, TAIPEI,
TAIWAN. |
|
IC
/ PP No |
: |
131385393 |
|
Nationality |
: |
TAIWANESE |
|
Date
of Appointment |
: |
17/08/2010 |
DIRECTOR
2
|
Name
Of Subject |
: |
CHAI
KIM YIN |
|
Address |
: |
53,
JALAN MAS PUTEH, PASIR PANJANG GARDENS, 128644, SINGAPORE. |
|
IC
/ PP No |
: |
S2554307F |
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
11/07/2013 |
DIRECTOR
3
|
Name
Of Subject |
: |
LIN
TSAI LI @ BARRY LIN |
|
Address |
: |
6,
MARINA BOULEVARD, 19-22, THE SAIL @ MARINA BAY, 018985, SINGAPORE. |
|
IC
/ PP No |
: |
S2689685A |
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
01/01/2014 |
|
1)
|
Name
of Subject |
: |
CHAI
KIM YIN |
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
PRICEWATERHOUSECOOPERS
LLP |
|
Auditor'
Address |
: |
N/A |
|
1)
|
Company
Secretary |
: |
CHIN
YING YING |
|
IC
/ PP No |
: |
S8478902Z |
|
|
Address |
: |
308,
SHUNFU ROAD, 04-153, 570308, SINGAPORE. |
No Banker found in our databank.
No
encumbrance was found in our databank at the time of investigation.
* 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.
|
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 |
[ |
] |
||||||
|
Fair
91-120 Days |
[ |
X |
] |
Poor
>120 Days |
[ |
] |
||||||||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its clientele
|
Goods
Traded |
: |
ELECTRONIC
COMPONENTS |
|
YEAR |
2014 |
|
|
GROUP |
N/A |
|
|
COMPANY |
160 |
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) wholesale of
electronic components.
The Subject refused to disclose its operation.
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-64701198 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
16,
TAI SENG STREET, 05- 00,534138 SINGAPORE |
|
Current
Address |
: |
16,
TAI SENG STREET, 05- 00, 534138, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject and she provided limited
information.
She refused to disclose its fax number.
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2011
- 2013 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
2011
- 2013 |
] |
|
|
Return
on Shareholder Funds |
: |
Acceptable |
[ |
16.00% |
] |
|
|
Return
on Net Assets |
: |
Acceptable |
[ |
22.55% |
] |
|
|
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 |
: |
Favourable |
[ |
0
Days |
] |
|
|
Debtor
Ratio |
: |
Favourable |
[ |
8
Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
0
Days |
] |
|
|
The
Subject's stocks were moving fast thus reducing its holding cost. This had
reduced funds being tied up in stocks. The favourable debtors' days could be
due to the good credit control measures implemented by the Subject. The
Subject had a favourable creditors' ratio where the Subject could be taking
advantage of the cash discounts and also wanting to maintain goodwill with
its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid
Ratio |
: |
Favourable |
[ |
1.08
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
1.08
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 |
: |
Acceptable |
[ |
8.63
Times |
] |
|
|
Gearing
Ratio |
: |
Unfavourable |
[ |
1.85
Times |
] |
|
|
The
Subject's interest cover was slightly low. If there is no sharp fall in its
profit or sudden increase in the interest rates, we believe the Subject is able
to generate sufficient income to service its interest and repay the loans.
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 : |
||||||
|
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. 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 had an acceptable interest cover. If there is no
sudden sharp increase in interest rate or fall in the Subject's profit, we do
believe the Subject is able to generate sufficient cash flow to service its
interest payment. 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 : FAIR |
||||||
|
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
: |
TRADING |
|
The
wholesale and retail trade sector contracted by 1.5% in the fourth quarter of
2012, extending the 0.2% decline in the preceding quarter. For the whole of
2012, the sector declined by 0.7%, reversing the 1.6% growth in 2011. The
sector was weighed down primarily by the wholesale trade segment. In 2012,
the wholesale trade segment contracted by 1.0%, a reversal from the 1.4%
growth in 2011. Growth of the retail trade segment also moderated to 2.0%,
from 3.2% in the year 2011. |
|
|
The
domestic wholesale trade index grew by 1.2% in the fourth quarter of 2012, an
improvement from the 5.4% decline in the third quarter. This was partly due
to an increase in the sales of chemicals & chemical products and ship
chandlers & bunkering. For the full year of 2012, the domestic wholesale
trade index contracted by 2.2%, extending the 1.7% decline in 2011. The
foreign wholesale trade index grew by 8.6% in the fourth quarter, an increase
from the 6.6% growth in the third quarter. The expansion was partly due to
resilient sales of petroleum & petroleum products. For the whole of 2012,
the foreign wholesale trade index expanded by 9.1%, faster than the 4.3%
increase in 2011. |
|
|
In
the fourth quarter of 2012, retail sales volume declined by 2.0%, extending
the 0.3% decline in the third quarter. Excluding motor vehicles, retail sales
volume grew by 0.4%, a slight moderation compared to the 1.5% gain in the
third quarter of 2012. The sales volume of motor vehicles fell by 11% in the
fourth quarter of 2012, after contracting by 6.1% in the third quarter. The
sales of several discretionary items also declined in the fourth quarter.
Besides, the sales of optical goods & books in 2012 fell by 3.6%, while
the sales of telecommunications apparatus & computers declined by 1.4%. |
|
|
For
2012 as a whole, retail sales volume grew by 1.3%, compared to the 2.0%
expansion in 2011. Excluding motor vehicle sales, the increase in retail
sales volume also moderated from 5.4% in 2011 to 1.7% in 2012. Medical goods
& toiletries registered the largest increase (9.3%) in sales, followed by
telecommunications apparatus & computers (6.9%). By contrast, the sales
of watches & jewellery (-2.2%) and optical goods & books (-3.6%)
declined. |
|
|
OVERALL
INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
|
Incorporated
in 2006, the Subject is a Private Limited company, focusing on wholesale of
electronic components. Having been in business for more than 5 years, the Subject
has established a remarkable clientele base for itself which has contributed
to its business growth. With an issued and paid up capital of SGD 7,633,600
and strong backing from its holding company, the Subject enjoys timely
financial assistance should the needs arise. These favourable conditions has
minimised its risk in the industry compared to other players. |
|
|
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
Financial
Year End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
|
Months |
12 |
12 |
12 |
|
Consolidated
Account |
Company |
Company |
Company |
|
Audited
Account |
YES |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
|
Financial
Type |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
|
TURNOVER |
239,552,257 |
14,270,012 |
15,291,615 |
|
Other
Income |
1,181,245 |
1,683,549 |
834,999 |
|
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
240,733,502 |
15,953,561 |
16,126,614 |
|
Costs
of Goods Sold |
(228,857,430) |
(13,448,192) |
(14,279,038) |
|
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
11,876,072 |
2,505,369 |
1,847,576 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
1,161,406 |
162,806 |
(313,115) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
1,161,406 |
162,806 |
(313,115) |
|
Taxation |
(231,282) |
(89,392) |
(72,423) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
930,124 |
73,414 |
(385,538) |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As
previously reported |
(768,826) |
(842,240) |
(456,702) |
|
---------------- |
---------------- |
---------------- |
|
|
As
restated |
(768,826) |
(842,240) |
(456,702) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
161,298 |
(768,826) |
(842,240) |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
161,298 |
(768,826) |
(842,240) |
|
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||
|
Others |
152,295 |
17,220 |
6,408 |
|
---------------- |
---------------- |
---------------- |
|
|
152,295 |
17,220 |
6,408 |
|
|
============= |
============= |
============= |
|
ASSETS
EMPLOYED: |
|||
|
FIXED
ASSETS |
468,575 |
829,351 |
1,775,622 |
|
LONG
TERM INVESTMENTS/OTHER ASSETS |
|||
|
Subsidiary
companies |
3,996,050 |
3,945,800 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
3,996,050 |
3,945,800 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
4,464,625 |
4,775,151 |
1,775,622 |
|
Stocks |
51,363 |
- |
717,945 |
|
Trade
debtors |
4,989,288 |
- |
1,965,500 |
|
Other
debtors, deposits & prepayments |
122,544 |
94,135 |
27,285 |
|
Amount
due from related companies |
10,829,920 |
359,412 |
2,469,816 |
|
Cash
& bank balances |
2,270,735 |
1,461,166 |
1,024,313 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
18,263,850 |
1,914,713 |
6,204,859 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
22,728,475 |
6,689,864 |
7,980,481 |
|
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||
|
Trade
creditors |
210,178 |
74,626 |
987,183 |
|
Other
creditors & accruals |
2,722,966 |
1,293,527 |
1,523,481 |
|
Short
term borrowings/Term loans |
10,742,166 |
- |
- |
|
Amounts
owing to related companies |
2,923,461 |
277,806 |
880,395 |
|
Provision
for taxation |
303,799 |
103,333 |
- |
|
Other
liabilities |
- |
- |
509,013 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
16,902,570 |
1,749,292 |
3,900,072 |
|
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
1,361,280 |
165,421 |
2,304,787 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
5,825,905 |
4,940,572 |
4,080,409 |
|
============= |
============= |
============= |
|
|
SHARE
CAPITAL |
|||
|
Ordinary
share capital |
5,650,226 |
5,650,226 |
4,850,226 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
5,650,226 |
5,650,226 |
4,850,226 |
|
Retained
profit/(loss) carried forward |
161,298 |
(768,826) |
(842,240) |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
161,298 |
(768,826) |
(842,240) |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
5,811,524 |
4,881,400 |
4,007,986 |
|
Deferred
taxation |
14,381 |
59,172 |
72,423 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
14,381 |
59,172 |
72,423 |
|
---------------- |
---------------- |
---------------- |
|
|
5,825,905 |
4,940,572 |
4,080,409 |
|
|
============= |
============= |
============= |
|
TYPES
OF FUNDS |
|||
|
Cash |
2,270,735 |
1,461,166 |
1,024,313 |
|
Net
Liquid Funds |
2,270,735 |
1,461,166 |
1,024,313 |
|
Net
Liquid Assets |
1,309,917 |
165,421 |
1,586,842 |
|
Net
Current Assets/(Liabilities) |
1,361,280 |
165,421 |
2,304,787 |
|
Net
Tangible Assets |
5,825,905 |
4,940,572 |
4,080,409 |
|
Net
Monetary Assets |
1,295,536 |
106,249 |
1,514,419 |
|
BALANCE
SHEET ITEMS |
|||
|
Total
Borrowings |
10,742,166 |
0 |
0 |
|
Total
Liabilities |
16,916,951 |
1,808,464 |
3,972,495 |
|
Total
Assets |
22,728,475 |
6,689,864 |
7,980,481 |
|
Net
Assets |
5,825,905 |
4,940,572 |
4,080,409 |
|
Net
Assets Backing |
5,811,524 |
4,881,400 |
4,007,986 |
|
Shareholders'
Funds |
5,811,524 |
4,881,400 |
4,007,986 |
|
Total
Share Capital |
5,650,226 |
5,650,226 |
4,850,226 |
|
Total
Reserves |
161,298 |
(768,826) |
(842,240) |
|
LIQUIDITY
(Times) |
|||
|
Cash
Ratio |
0.13 |
0.84 |
0.26 |
|
Liquid
Ratio |
1.08 |
1.09 |
1.41 |
|
Current
Ratio |
1.08 |
1.09 |
1.59 |
|
WORKING
CAPITAL CONTROL (Days) |
|||
|
Stock
Ratio |
0 |
0 |
17 |
|
Debtors
Ratio |
8 |
0 |
47 |
|
Creditors
Ratio |
0 |
2 |
25 |
|
SOLVENCY
RATIOS (Times) |
|||
|
Gearing
Ratio |
1.85 |
0.00 |
0.00 |
|
Liabilities
Ratio |
2.91 |
0.37 |
0.99 |
|
Times
Interest Earned Ratio |
8.63 |
10.45 |
(47.86) |
|
Assets
Backing Ratio |
1.03 |
0.87 |
0.84 |
|
PERFORMANCE
RATIO (%) |
|||
|
Operating
Profit Margin |
0.48 |
1.14 |
(2.05) |
|
Net
Profit Margin |
0.39 |
0.51 |
(2.52) |
|
Return
On Net Assets |
22.55 |
3.64 |
(7.52) |
|
Return
On Capital Employed |
22.55 |
3.64 |
(7.52) |
|
Return
On Shareholders' Funds/Equity |
16.00 |
1.50 |
(9.62) |
|
Dividend
Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
|
NOTES
TO ACCOUNTS |
|||
|
Contingent
Liabilities |
0 |
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
: |
SUB |
|
|
|
|
Report Prepared
by : |
VNT |
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.