|
Report No. : |
320872 |
|
Report Date : |
08.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
LF PRODUCTS PTE. LTD. |
|
|
|
|
Formerly Known As : |
INNO PRODUCT PTE. LTD. (15/12/2010) |
|
|
|
|
Registered Office : |
10, Raeburn Park, 03-08, 088702 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
08.07.2010 |
|
|
|
|
Com. Reg. No.: |
201014499-W |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading of Furniture |
|
|
|
|
No. of Employee : |
50 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SINGAPORE - ECONOMIC OVERVIEW
Singapore has a highly developed and successful free-market economy.
It enjoys a remarkably open and corruption-free environment, stable prices, and
a per capita GDP higher than that of most developed countries. Unemployment is
very low. The economy depends heavily on exports, particularly in consumer
electronics, information technology products, pharmaceuticals, and on a growing
financial services sector. The economy contracted 0.6% in 2009 as a result of
the global financial crisis, but rebounded 15.1% in 2010, on the strength of
renewed exports. Growth in 2014 was slower at 13.9%, largely a result of soft
demand for exports during the second European recession. Over the longer term,
the government hopes to establish a new growth path that focuses on raising
productivity. Singapore has attracted major investments in pharmaceuticals and
medical technology production and will continue efforts to establish Singapore
as Southeast Asia's financial and high-tech hub. Singapore is a member of the
12-nation Trans-Pacific Partnership free trade agreement negotiations and, with
the nine other ASEAN members, will form the ASEAN Economic Community in 2015.
|
Source
: CIA |
|
REGISTRATION NO. |
: |
201014499-W |
|
COMPANY NAME |
: |
LF PRODUCTS PTE. LTD. |
|
FORMER NAME |
: |
INNO PRODUCT PTE. LTD. (15/12/2010) |
|
INCORPORATION DATE |
: |
08/07/2010 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
10, RAEBURN PARK, 03-08, 088702, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
10, RAEBURN PARK, 03-08, BLOCK A, 088702, SINGAPORE. |
|
TEL.NO. |
: |
65-63338893 |
|
FAX.NO. |
: |
65-68359383 |
|
CONTACT PERSON |
: |
MUKHTAR AHMED S/O MOHAMED ZAKERIA ( MANAGING DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
TRADING OF FURNITURE |
|
ISSUED AND PAID UP CAPITAL |
: |
10,000.00 ORDINARY SHARE, OF A VALUE OF SGD 10,000.00 |
|
SALES |
: |
USD 1,170,921,669 [2013] |
|
NET WORTH |
: |
USD 23,545,440 [2013] |
|
STAFF STRENGTH |
: |
50 [2015] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STABLE |
|
PAYMENT |
: |
AVERAGE |
|
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) trading of
furniture.
The immediate holding company of the Subject is LF CENTENNIAL PTE. LTD.,
a company incorporated in SINGAPORE.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
06/05/2015 |
SGD 10,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
LF CENTENNIAL PTE. LTD. |
10, RAEBURN PARK, 03-08, 088702, SINGAPORE. |
200618333D |
10,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
10,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
CHINA |
LF PRODUCTS (SHANGHAI) LTD. |
100.00 |
31/12/2013 |
|
|
HONG KONG |
LF PRODUCTS (HONG KONG) LTD. |
100.00 |
31/12/2013 |
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. MUKHTAR AHMED S/O MOHAMED ZAKERIA |
|
Address |
: |
454, TAMPINES STREET, 42, 07-252, 520454, SINGAPORE. |
|
IC / PP No |
: |
S1163788D |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
31/01/2011 |
DIRECTOR 2
|
Name Of Subject |
: |
ONUR GUR |
|
Address |
: |
42, KEPPEL BAY DRIVE, 05-112, CARIBBEAN AT KEPPEL BAY, 098656,
SINGAPORE. |
|
IC / PP No |
: |
G6305820W |
|
Nationality |
: |
TURK |
|
Date of Appointment |
: |
01/11/2012 |
DIRECTOR 3
|
Name Of Subject |
: |
DWIJENDRANATH RAMDIN |
|
Address |
: |
60, TANAH MERAH KECHIL AVENUE, 10-17, CASA MERAH, 465529, SINGAPORE. |
|
IC / PP No |
: |
S2768879I |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
01/11/2012 |
|
1) |
Name of Subject |
: |
MUKHTAR AHMED S/O MOHAMED ZAKERIA |
|
Position |
: |
MANAGING DIRECTOR |
|
Auditor |
: |
PRICEWATERHOUSECOOPERS LLP |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
CHEW SOR HUA |
|
IC / PP No |
: |
S1688526F |
|
|
Address |
: |
6, JALAN IKAN MERAH, THOMSON PARK, 578037, 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 information.
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 |
[ |
] |
|||||||||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose any information on its clientele.
|
Goods Traded |
: |
FURNITURES |
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2015 |
2014 |
2013 |
||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
50 |
50 |
50 |
||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of furniture.
The Subject is one of the members of Singapore Furniture Association.
The Subject sells bedroom, dining, garden, kitchen, living room, office and
outdoor furnitures.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
6563338893 |
|
Current Telephone Number |
: |
65-63338893 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
10, RAEBURN PARK, 03-08, BLOCK A,088702,SINGAPORE |
|
Current Address |
: |
10, RAEBURN PARK, 03-08, BLOCK A, 088702, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
On 6th May 2015 we contacted one of the staff from the Subject and she provided
some information.
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2010 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2010 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
321.04% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
336.89% |
] |
|
|
The Subject's turnover increased steadily as the demand for its
products / services increased due to the goodwill built up over the years.The
dip in profit could be due to the stiff market competition which reduced the
Subject's profit margin. Generally the Subject was profitable. The favourable
return on shareholders' funds and return on net assets indicate that the
Subject's management was efficient in utilising the assets to generate
returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
68 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
51 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding cost. This
had reduced funds being tied up in stocks. The high debtors' ratio could
indicate that the Subject was weak in its credit control. However, the
Subject could also giving longer credit periods to its customers in order to
boost its sales or to capture / retain its market share. 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 |
[ |
1.06 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.06 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 |
: |
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 : |
||||||
|
Although the Subject's turnover had increased, its profits had declined
over the same corresponding period. This could be due to the stiffer market
competition and / or higher operating costs which lowered the Subject's
profit margin. 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 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 : STABLE |
||||||
|
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 : |
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 |
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
LF PRODUCTS PTE. LTD. |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
|
Months |
12 |
12 |
12 |
5 |
|
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 |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
USD |
|
TURNOVER |
1,170,921,669 |
552,627,898 |
188,562,350 |
28,228,317 |
|
Other Income |
10,528,607 |
2,470,343 |
405,349 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
1,181,450,276 |
555,098,241 |
188,967,699 |
28,228,317 |
|
Costs of Goods Sold |
(976,812,850) |
(440,663,086) |
(141,379,511) |
(19,545,777) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
204,637,426 |
114,435,155 |
47,588,188 |
8,682,540 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
79,322,352 |
80,993,480 |
38,199,018 |
7,177,072 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
79,322,352 |
80,993,480 |
38,199,018 |
7,177,072 |
|
Taxation |
(3,731,784) |
(4,171,305) |
(1,892,058) |
(358,854) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
75,590,568 |
76,822,175 |
36,306,960 |
6,818,218 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||||
|
As previously reported |
27,947,353 |
21,125,178 |
6,818,218 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
27,947,353 |
21,125,178 |
6,818,218 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
103,537,921 |
97,947,353 |
43,125,178 |
6,818,218 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(80,000,000) |
(70,000,000) |
(22,000,000) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
23,537,921 |
27,947,353 |
21,125,178 |
6,818,218 |
|
============= |
============= |
============= |
============= |
|
|
LF PRODUCTS PTE. LTD. |
|
ASSETS EMPLOYED: |
||||
|
FIXED ASSETS |
263,151 |
313,031 |
285,638 |
- |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
||||
|
Subsidiary companies |
772,607 |
772,607 |
772,607 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
772,607 |
772,607 |
772,607 |
- |
|
Others |
148,639 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
148,639 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
1,184,397 |
1,085,638 |
1,058,245 |
- |
|
Stocks |
786,249 |
2,443,889 |
- |
- |
|
Trade debtors |
217,975,738 |
123,881,809 |
57,131,188 |
2,761,210 |
|
Other debtors, deposits & prepayments |
18,967,597 |
14,312,663 |
15,699,717 |
6,935,305 |
|
Amount due from related companies |
103,794,025 |
20,870,140 |
1,851,133 |
29,912 |
|
Cash & bank balances |
48,718,494 |
202,037,038 |
31,900,868 |
9,317,082 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
390,242,103 |
363,545,539 |
106,582,906 |
19,043,509 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
391,426,500 |
364,631,177 |
107,641,151 |
19,043,509 |
|
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
||||
|
Trade creditors |
137,044,039 |
78,340,139 |
30,583,196 |
4,310,452 |
|
Other creditors & accruals |
21,682,527 |
14,492,160 |
12,178,658 |
765,024 |
|
Deposits from customers |
223,902 |
745,864 |
- |
948,373 |
|
Bill & acceptances payable |
4,130,542 |
- |
- |
- |
|
Amounts owing to holding company |
94,770,439 |
219,709,398 |
- |
- |
|
Amounts owing to related companies |
106,185,487 |
19,240,135 |
41,888,490 |
5,116,411 |
|
Provision for taxation |
3,844,124 |
4,148,609 |
1,858,110 |
358,854 |
|
Other liabilities |
- |
- |
- |
718,658 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
367,881,060 |
336,676,305 |
86,508,454 |
12,217,772 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
22,361,043 |
26,869,234 |
20,074,452 |
6,825,737 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
23,545,440 |
27,954,872 |
21,132,697 |
6,825,737 |
|
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
||||
|
Ordinary share capital |
7,519 |
7,519 |
7,519 |
7,519 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
7,519 |
7,519 |
7,519 |
7,519 |
|
Retained profit/(loss) carried forward |
23,537,921 |
27,947,353 |
21,125,178 |
6,818,218 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
23,537,921 |
27,947,353 |
21,125,178 |
6,818,218 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
23,545,440 |
27,954,872 |
21,132,697 |
6,825,737 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
23,545,440 |
27,954,872 |
21,132,697 |
6,825,737 |
|
|
============= |
============= |
============= |
============= |
|
|
LF PRODUCTS PTE. LTD. |
|
TYPES OF FUNDS |
||||
|
Cash |
48,718,494 |
202,037,038 |
31,900,868 |
9,317,082 |
|
Net Liquid Funds |
48,718,494 |
202,037,038 |
31,900,868 |
9,317,082 |
|
Net Liquid Assets |
21,574,794 |
24,425,345 |
20,074,452 |
6,825,737 |
|
Net Current Assets/(Liabilities) |
22,361,043 |
26,869,234 |
20,074,452 |
6,825,737 |
|
Net Tangible Assets |
23,396,801 |
27,954,872 |
21,132,697 |
6,825,737 |
|
Net Monetary Assets |
21,574,794 |
24,425,345 |
20,074,452 |
6,825,737 |
|
BALANCE SHEET ITEMS |
||||
|
Total Borrowings |
0 |
0 |
0 |
0 |
|
Total Liabilities |
367,881,060 |
336,676,305 |
86,508,454 |
12,217,772 |
|
Total Assets |
391,426,500 |
364,631,177 |
107,641,151 |
19,043,509 |
|
Net Assets |
23,545,440 |
27,954,872 |
21,132,697 |
6,825,737 |
|
Net Assets Backing |
23,545,440 |
27,954,872 |
21,132,697 |
6,825,737 |
|
Shareholders' Funds |
23,545,440 |
27,954,872 |
21,132,697 |
6,825,737 |
|
Total Share Capital |
7,519 |
7,519 |
7,519 |
7,519 |
|
Total Reserves |
23,537,921 |
27,947,353 |
21,125,178 |
6,818,218 |
|
LIQUIDITY (Times) |
||||
|
Cash Ratio |
0.13 |
0.60 |
0.37 |
0.76 |
|
Liquid Ratio |
1.06 |
1.07 |
1.23 |
1.56 |
|
Current Ratio |
1.06 |
1.08 |
1.23 |
1.56 |
|
WORKING CAPITAL CONTROL (Days) |
||||
|
Stock Ratio |
0 |
2 |
0 |
0 |
|
Debtors Ratio |
68 |
82 |
111 |
36 |
|
Creditors Ratio |
51 |
65 |
79 |
80 |
|
SOLVENCY RATIOS (Times) |
||||
|
Gearing Ratio |
0.00 |
0.00 |
0.00 |
0.00 |
|
Liabilities Ratio |
15.62 |
12.04 |
4.09 |
1.79 |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
0.00 |
0.00 |
|
Assets Backing Ratio |
3,111.69 |
3,717.90 |
2,810.57 |
907.80 |
|
PERFORMANCE RATIO (%) |
||||
|
Operating Profit Margin |
6.77 |
14.66 |
20.26 |
25.43 |
|
Net Profit Margin |
6.46 |
13.90 |
19.25 |
24.15 |
|
Return On Net Assets |
336.89 |
289.73 |
180.76 |
105.15 |
|
Return On Capital Employed |
334.78 |
289.73 |
180.76 |
105.15 |
|
Return On Shareholders' Funds/Equity |
321.04 |
274.81 |
171.80 |
99.89 |
|
Dividend Pay Out Ratio (Times) |
1.06 |
0.91 |
0.61 |
0.00 |
|
NOTES TO ACCOUNTS |
||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.88 |
|
|
1 |
Rs.97.21 |
|
Euro |
1 |
Rs.72.51 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SDA |
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.