|
Report No. : |
322551 |
|
Report Date : |
19.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
4'C DIAMONDS PTE LTD |
|
|
|
|
Registered Office : |
17, Phillip Street, 05-01, Grand Building, 048695 |
|
|
|
|
Country : |
Singapore
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
25.10.1997 |
|
|
|
|
Com. Reg. No.: |
199707403-N |
|
|
|
|
Legal Form : |
Exempt Private |
|
|
|
|
Line of Business : |
Subject is engaged in the trading of diamonds. |
|
|
|
|
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 : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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. |
: |
199707403-N |
||||
|
COMPANY NAME |
: |
4'C DIAMONDS PTE LTD |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
25/10/1997 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
EXEMPT PRIVATE |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
17, PHILLIP STREET, 05-01, GRAND BUILDING, 048695, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
17, PHILLIP STREET, 05-01, GRAND BUILDING, 048695, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-65333377 |
||||
|
FAX.NO. |
: |
65-65333227 |
||||
|
CONTACT PERSON |
: |
SHAH PARAG SHASHIKANT ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF DIAMONDS |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
1,000,000.00 ORDINARY SHARE, OF A VALUE OF SGD 1,000,000.00 |
||||
|
SALES |
: |
SGD 5,311,941 [2012] |
||||
|
NET WORTH |
: |
SGD 1,995,077 [2012] |
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
POOR |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
N/A |
||||
|
CURRENCY EXPOSURE |
: |
N/A |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE 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) trading of
diamonds.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
18/05/2015 |
SGD 1,000,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
SHAH PARAG SHASHIKANT + |
102, HAIG ROAD, 10-07, DUNMAN VIEW, 438798, SINGAPORE. |
S7582329J |
500,000.00 |
50.00 |
|
SHETH AMISHKUMAR RAMNIKLAL + |
FLAT A 8/F HANG WAN BUILDING, 42-44, GRANVILLE ROAD, TSIMSHATSUI,
KOWLOON, HONG KONG. |
F3812291 |
500,000.00 |
50.00 |
|
--------------- |
------ |
|||
|
1,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
SHAH PARAG SHASHIKANT |
|
Address |
: |
102, HAIG ROAD, 10-07, DUNMAN VIEW, 438798, SINGAPORE. |
|
IC / PP No |
: |
S7582329J |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
25/10/1997 |
DIRECTOR 2
|
Name Of Subject |
: |
SHETH AMISHKUMAR RAMNIKLAL |
|
Address |
: |
FLAT A 8/F HANG WAN BUILDING, 42-44, GRANVILLE ROAD, TSIMSHATSUI,
KOWLOON, HONG KONG. |
|
IC / PP No |
: |
F3812291 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
03/04/1998 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
SHAH PARAG SHASHIKANT |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
PRUDENTIAL PUBLIC ACCOUNTING CORPORATION |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
SHAH SWATI PARAG |
|
IC / PP No |
: |
S7780433A |
|
|
Address |
: |
102, HAIG ROAD, 10-07, DUNMAN VIEW, 438798, SINGAPORE. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MALAYAN BANKING BHD |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C201202732 |
12/03/2012 |
N/A |
MALAYAN BANKING BERHAD |
- |
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.
|
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
|
|
Goods Traded |
: |
DIAMONDS |
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of diamonds.
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 |
: |
65-65333377 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
180, PAYA LEBAR RD, 06-03, YI GUANG FACTORY BLG SINGAPORE |
|
Current Address |
: |
17, PHILLIP STREET, 05-01, GRAND BUILDING, 048695, SINGAPORE. |
|
Match |
: |
NO |
|
|
||
Other Investigations
We contacted one of the staff from the Subject's registered office but she only
provided limited information on the Subject.
She also refused to disclose the number of employees.
The contact number we found for the address provided at 65-67439030 is not answered.
FINANCIAL
ANALYSIS
|
|
The Subject's latest financial accounts are up to 2012 which is out
dated in our opinion. Therefore, our comment on the Subject financial
performance is restricted thereto. |
||||||
|
Overall financial condition of the Subject : N/A |
||||||
SINGAPORE
ECONOMIC / INDUSTRY OUTLOOK
|
|
Major Economic Indicators : |
2009 |
2010 |
2011 |
2012 |
2013 |
|
|
|||||
|
Population (Million) |
4.98 |
5.08 |
5.18 |
5.31 |
5.40 |
|
Gross Domestic Products ( % ) |
(0.8) |
14.5 |
4.9 |
1.3 |
3.7 |
|
Consumer Price Index |
0.6 |
2.8 |
5.2 |
4.6 |
2.4 |
|
Total Imports (Million) |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
|
Total Exports (Million) |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
|
|
|||||
|
Unemployment Rate (%) |
3.2 |
2.2 |
2.1 |
2.0 |
1.9 |
|
Tourist Arrival (Million) |
9.68 |
11.64 |
13.17 |
14.49 |
15.46 |
|
Hotel Occupancy Rate (%) |
75.8 |
85.6 |
86.5 |
86.4 |
86.3 |
|
Cellular Phone Subscriber (Million) |
1.37 |
1.43 |
1.50 |
1.52 |
1.97 |
|
|
|||||
|
Registration of New Companies (No.) |
26,414 |
29,798 |
32,317 |
31,892 |
37,288 |
|
Registration of New Companies (%) |
4.3 |
12.8 |
8.5 |
(1.3) |
9.8 |
|
Liquidation of Companies (No.) |
22,393 |
15,126 |
19,005 |
17,218 |
17,369 |
|
Liquidation of Companies (%) |
113.4 |
(32.5) |
25.6 |
9.4 |
(5.3) |
|
|
|||||
|
Registration of New Businesses (No.) |
26,876 |
23,978 |
23,494 |
24,788 |
22,893 |
|
Registration of New Businesses (%) |
8.15 |
(10.78) |
2.02 |
5.51 |
1.70 |
|
Liquidation of Businesses (No.) |
23,552 |
24,211 |
23,005 |
22,489 |
22,598 |
|
Liquidation of Businesses (%) |
11.4 |
2.8 |
(5) |
(2.2) |
0.5 |
|
|
|||||
|
Bankruptcy Orders (No.) |
2,058 |
1,537 |
1,527 |
1,748 |
1,992 |
|
Bankruptcy Orders (%) |
(11.5) |
(25.3) |
(0.7) |
14.5 |
14.0 |
|
Bankruptcy Discharges (No.) |
3,056 |
2,252 |
1,391 |
1,881 |
2,584 |
|
Bankruptcy Discharges (%) |
103.7 |
(26.3) |
(38.2) |
35.2 |
37.4 |
|
|
|||||
|
INDUSTRIES ( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production of Principal Crops |
3.25 |
(0.48) |
4.25 |
3.64 |
- |
|
Fish Supply & Wholesale |
(1.93) |
(10.5) |
12.10 |
(0.5) |
- |
|
|
|||||
|
Manufacturing * |
71.5 |
92.8 |
100.0 |
100.3 |
102.0 |
|
Food, Beverages & Tobacco |
90.4 |
96.4 |
100.0 |
103.5 |
103.5 |
|
Textiles |
145.9 |
122.1 |
100.0 |
104.0 |
87.1 |
|
Wearing Apparel |
211.0 |
123.3 |
100.0 |
92.1 |
77.8 |
|
Leather Products & Footwear |
79.5 |
81.8 |
100.0 |
98.6 |
109.8 |
|
Wood & Wood Products |
101.4 |
104.0 |
100.0 |
95.5 |
107.4 |
|
Paper & Paper Products |
95.4 |
106.1 |
100.0 |
97.4 |
103.2 |
|
Printing & Media |
100.9 |
103.5 |
100.0 |
93.0 |
86.1 |
|
Crude Oil Refineries |
96.4 |
95.6 |
100.0 |
99.4 |
93.5 |
|
Chemical & Chemical Products |
80.3 |
97.6 |
100.0 |
100.5 |
104.1 |
|
Pharmaceutical Products |
49.1 |
75.3 |
100.0 |
109.7 |
107.2 |
|
Rubber & Plastic Products |
101.2 |
112.3 |
100.0 |
96.5 |
92.9 |
|
Non-metallic Mineral |
91.9 |
92.5 |
100.0 |
98.2 |
97.6 |
|
Basic Metals |
92.6 |
102.2 |
100.0 |
90.6 |
76.5 |
|
Fabricated Metal Products |
90.8 |
103.6 |
100.0 |
104.3 |
105.1 |
|
Machinery & Equipment |
57.3 |
78.5 |
100.0 |
112.9 |
114.5 |
|
Electrical Machinery |
86.8 |
124.1 |
100.0 |
99.3 |
108.5 |
|
Electronic Components |
85.2 |
113.6 |
100.0 |
90.6 |
94.3 |
|
Transport Equipment |
96.0 |
94.0 |
100.0 |
106.3 |
107.5 |
|
|
|||||
|
Construction |
(36.9) |
14.20 |
20.50 |
28.70 |
- |
|
Real Estate |
1.4 |
21.3 |
25.4 |
31.9 |
- |
|
|
|||||
|
Services |
|||||
|
Electricity, Gas & Water |
1.70 |
4.00 |
7.00 |
6.30 |
- |
|
Transport, Storage & Communication |
3.90 |
12.80 |
7.40 |
5.30 |
- |
|
Finance & Insurance |
(16.4) |
(0.4) |
8.90 |
0.50 |
- |
|
Government Services |
4.50 |
9.70 |
6.90 |
6.00 |
- |
|
Education Services |
0.10 |
(0.9) |
(1.4) |
0.30 |
- |
|
|
|||||
|
* Based on Index of Industrial Production (2011 = 100) |
INDUSTRY
ANALYSIS
|
|
INDUSTRY : |
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. |
|
4'C DIAMONDS PTE LTD |
|
Financial Year End |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
|
Months |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
SUMMARY |
SUMMARY |
|
Currency |
SGD |
SGD |
SGD |
SGD |
|
TURNOVER |
5,311,941 |
7,244,061 |
6,190,036 |
5,024,625 |
|
Other Income |
12,607 |
7,909 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
5,324,548 |
7,251,970 |
6,190,036 |
5,024,625 |
|
Costs of Goods Sold |
(4,922,014) |
(6,824,641) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
402,534 |
427,329 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
83,811 |
93,692 |
85,529 |
99,012 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
83,811 |
93,692 |
85,529 |
99,012 |
|
Taxation |
(7,699) |
(9,390) |
(7,527) |
(8,439) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
76,112 |
84,302 |
78,002 |
90,573 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||||
|
As previously reported |
918,965 |
834,663 |
756,661 |
666,088 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
918,965 |
834,663 |
756,661 |
666,088 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
995,077 |
918,965 |
834,663 |
756,661 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
995,077 |
918,965 |
834,663 |
756,661 |
|
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
||||
|
Bank overdraft |
- |
5,847 |
- |
- |
|
Term loan / Borrowing |
10,480 |
25,394 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
10,480 |
31,241 |
- |
- |
|
|
============= |
============= |
- |
- |
|
BALANCE
SHEET
|
|
4'C DIAMONDS PTE LTD |
|
ASSETS EMPLOYED: |
||||
|
FIXED ASSETS |
985,815 |
1,008,343 |
1,033,517 |
1,051,537 |
|
Others |
15,493 |
15,493 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
15,493 |
15,493 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
1,001,308 |
1,023,836 |
1,033,517 |
1,051,537 |
|
Stocks |
1,166,109 |
1,218,502 |
- |
- |
|
Trade debtors |
2,527,614 |
3,156,776 |
- |
- |
|
Other debtors, deposits & prepayments |
3,580 |
4,932 |
- |
- |
|
Short term deposits |
- |
50,640 |
- |
- |
|
Amount due from related companies |
203,104 |
224,219 |
- |
- |
|
Cash & bank balances |
139,986 |
138,020 |
- |
- |
|
Others |
- |
29,511 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
4,040,393 |
4,822,600 |
4,806,999 |
3,977,458 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
5,041,701 |
5,846,436 |
5,840,516 |
5,028,995 |
|
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
||||
|
Trade creditors |
1,432,768 |
2,294,976 |
- |
- |
|
Other creditors & accruals |
61,574 |
4,912 |
- |
- |
|
Short term borrowings/Term loans |
19,082 |
17,901 |
- |
- |
|
Amounts owing to related companies |
479,051 |
495,748 |
- |
- |
|
Amounts owing to director |
430,893 |
469,094 |
- |
- |
|
Provision for taxation |
7,709 |
8,065 |
- |
- |
|
Other liabilities |
8,936 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
2,440,013 |
3,290,696 |
3,350,418 |
2,598,552 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
1,600,380 |
1,531,904 |
1,456,581 |
1,378,906 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
2,601,688 |
2,555,740 |
2,490,098 |
2,430,443 |
|
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
||||
|
Ordinary share capital |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
|
Retained profit/(loss) carried forward |
995,077 |
918,965 |
834,663 |
756,661 |
|
Others |
- |
- |
0 |
0 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
995,077 |
918,965 |
834,663 |
756,661 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
1,995,077 |
1,918,965 |
1,834,663 |
1,756,661 |
|
Long term loans |
606,611 |
636,775 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
606,611 |
636,775 |
655,435 |
673,782 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
2,601,688 |
2,555,740 |
2,490,098 |
2,430,443 |
|
|
============= |
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
|
4'C DIAMONDS PTE LTD |
|
TYPES OF FUNDS |
||||
|
Cash |
139,986 |
188,660 |
- |
- |
|
Net Liquid Funds |
139,986 |
188,660 |
- |
- |
|
Net Liquid Assets |
434,271 |
313,402 |
1,456,581 |
1,378,906 |
|
Net Current Assets/(Liabilities) |
1,600,380 |
1,531,904 |
1,456,581 |
1,378,906 |
|
Net Tangible Assets |
2,586,195 |
2,540,247 |
2,490,098 |
2,430,443 |
|
Net Monetary Assets |
(172,340) |
(323,373) |
801,146 |
705,124 |
|
BALANCE SHEET ITEMS |
||||
|
Total Borrowings |
625,693 |
654,676 |
- |
- |
|
Total Liabilities |
3,046,624 |
3,927,471 |
4,005,853 |
3,272,334 |
|
Total Assets |
5,041,701 |
5,846,436 |
5,840,516 |
5,028,995 |
|
Net Assets |
2,601,688 |
2,555,740 |
2,490,098 |
2,430,443 |
|
Net Assets Backing |
1,995,077 |
1,918,965 |
1,834,663 |
1,756,661 |
|
Shareholders' Funds |
1,995,077 |
1,918,965 |
1,834,663 |
1,756,661 |
|
Total Share Capital |
1,000,000 |
1,000,000 |
1,000,000 |
1,000,000 |
|
Total Reserves |
995,077 |
918,965 |
834,663 |
756,661 |
|
LIQUIDITY (Times) |
||||
|
Cash Ratio |
0.06 |
0.06 |
- |
- |
|
Liquid Ratio |
1.18 |
1.10 |
- |
- |
|
Current Ratio |
1.66 |
1.47 |
1.43 |
1.53 |
|
WORKING CAPITAL CONTROL (Days) |
||||
|
Stock Ratio |
80 |
61 |
- |
- |
|
Debtors Ratio |
174 |
159 |
- |
- |
|
Creditors Ratio |
106 |
123 |
- |
- |
|
SOLVENCY RATIOS (Times) |
||||
|
Gearing Ratio |
0.31 |
0.34 |
- |
- |
|
Liabilities Ratio |
1.53 |
2.05 |
2.18 |
1.86 |
|
Times Interest Earned Ratio |
9.00 |
4.00 |
- |
- |
|
Assets Backing Ratio |
2.59 |
2.54 |
2.49 |
2.43 |
|
PERFORMANCE RATIO (%) |
||||
|
Operating Profit Margin |
1.58 |
1.29 |
1.38 |
1.97 |
|
Net Profit Margin |
1.43 |
1.16 |
1.26 |
1.80 |
|
Return On Net Assets |
3.62 |
4.89 |
3.43 |
4.07 |
|
Return On Capital Employed |
3.60 |
4.86 |
3.43 |
4.07 |
|
Return On Shareholders' Funds/Equity |
3.81 |
4.39 |
4.25 |
5.16 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
- |
- |
|
NOTES TO ACCOUNTS |
||||
|
Contingent Liabilities |
0 |
0 |
DIAMOND
INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of diamonds
but history says that in the remote past, diamonds were mined only in India.
Diamond production in India can be traced back to almost 8th Century
B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of diamonds
has stopped completely.” Demand has started coming from the US, the UK, Japan
and China. India’s polished diamond export is expected to cross $ 21 bn in
2013-14.
-
The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.55 |
|
|
1 |
Rs.99.86 |
|
Euro |
1 |
Rs.72.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.