|
Report No. : |
323001 |
|
Report Date : |
23.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
SCHAEFER SYSTEMSINTERNATIONAL PTE LTD |
|
|
|
|
Formerly Known As : |
INTERPLAN STORAGE SYSTEMS PTE LTD (08/06/1993) |
|
|
|
|
Registered Office : |
73, Tuas Avenue 1, 639512 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
14.06.1984 |
|
|
|
|
Com. Reg. No.: |
198402177-E |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading of Intralogistics Systems, General Warehousing |
|
|
|
|
No of Employees : |
57 [2015] |
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 Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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. |
: |
198402177-E |
||||
|
COMPANY NAME |
: |
SCHAEFER
SYSTEMSINTERNATIONAL PTE LTD |
||||
|
FORMER NAME |
: |
INTERPLAN STORAGE SYSTEMS PTE LTD
(08/06/1993) |
||||
|
INCORPORATION DATE |
: |
14/06/1984 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
73, TUAS AVENUE 1, 639512, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
73, TUAS AVENUE 1, 639512, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-68630168 |
||||
|
FAX.NO. |
: |
65-68630288 |
||||
|
WEB SITE |
: |
WWW.SSI-SCHAEFER-ASIA.COM |
||||
|
CONTACT PERSON |
: |
BRIAN GRAHAM MILES ( MANAGING DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF INTRALOGISTICS SYSTEMS, GENERAL
WAREHOUSING |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
5,000,000.00 ORDINARY SHARE, OF A VALUE OF
SGD 5,280,080.00 |
||||
|
SALES |
: |
SGD 113,342,231 [2013] |
||||
|
NET WORTH |
: |
SGD 27,281,108 [2013] |
||||
|
STAFF STRENGTH |
: |
57 [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 |
||||
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) trading of intralogistics systems, general warehousing.
The immediate holding company of the Subject is SSI SCHAEFER HOLDING INTERNATIONAL GMBH, a company incorporated in GERMANY.
Share Capital History
|
Date |
Issue & Paid
Up Capital |
|
20/05/2015 |
SGD 5,280,080.00 |
The major shareholder(s) of the Subject are
shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
SSI SCHAEFER HOLDING INTERNATIONAL GMBH |
FRITZ-SCHAEFER-STRASSE 20, D-5908,
NEUNKIRCHEN, GERMANY. |
S84UF0249 |
5,000,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
5,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. BRIAN GRAHAM MILES |
|
Address |
: |
20, WEST COAST ROAD, 02-29, STELLAR, THE,
127308, SINGAPORE. |
|
IC / PP No |
: |
S2698411D |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
14/06/1984 |
DIRECTOR 2
|
Name Of Subject |
: |
RUDOLF KARL KELLER |
|
Address |
: |
ROSSBELGSTT.11/CH-8832, WOLLERAU,
SWITZERLAND. |
|
IC / PP No |
: |
X4208870 |
|
Nationality |
: |
SWISS |
|
Date of Appointment |
: |
01/09/1995 |
DIRECTOR 3
|
Name Of Subject |
: |
WOLF UDO PFEIL |
|
Address |
: |
HOEHENWEG, 7, 57234, WILNSDORF, GERMANY. |
|
IC / PP No |
: |
571916856 |
|
Nationality |
: |
GERMAN |
|
Date of Appointment |
: |
22/05/1995 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
BRIAN GRAHAM MILES |
|
Position |
: |
MANAGING DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
PKF-CAP LLP |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
JENNY TANG |
|
IC / PP No |
: |
S1324157J |
|
|
Address |
: |
24, FULTON AVENUE, FULTON HILL, 578990, SINGAPORE. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
DEUTSCHE BANK AKTIENGESELLSCHAFT |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge
Description |
Chargee Name |
Total Charge |
Status |
|
200101657 |
10/04/2001 |
N/A |
DEUTSCHE BANK AKTIENGESELLSCHAFT |
- |
Unsatisfied |
|
200101658 |
10/04/2001 |
N/A |
DEUTSCHE BANK AKTIENGESELLSCHAFT |
- |
Unsatisfied |
|
C201301736 |
31/01/2013 |
N/A |
DEUTSCHE BANK AKTIENGESELLSCHAFT |
- |
Unsatisfied |
LITIGATION
CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank against 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 any information on its trade 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 SC refused to disclose any information on its clientele.
OPERATIONS
|
|
Goods Traded |
: |
INTRALOGISTICS SYSTEMS |
|
|
Services |
: |
GENERAL WAREHOUSING |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2015 |
2013 |
|||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
57 |
57 |
|||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of
intralogistics systems, general warehousing.
The Subject showcases automated storage systems such as Logimat (automatic
vertical storage), Orbiter, and Mobile pallet racking; and order picking
technologies such as the Pick-By-Light, Pick-By-Voice, and RF picking.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
6568630168 |
|
Current Telephone Number |
: |
65-68630168 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
NO 73 TUAS AVENUE 1, SINGAPORE 639512 |
|
Current Address |
: |
73, TUAS AVENUE 1, 639512, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject and he provided some
information.
FINANCIAL
ANALYSIS
|
|
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2009 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2009 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
29.08% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
33.87% |
] |
|
|
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 |
: |
Unfavourable |
[ |
80 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
146 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
106 Days |
] |
|
|
The Subject could be incurring higher holding cost. As its capital was
tied up in stocks, it could face liquidity problems. The Subject's debtors
ratio was high. The Subject should tighten its credit control and improve its
collection period. The unfavourable creditors' ratio could be due to the
Subject taking advantage of the credit granted by its suppliers. However this
may affect the goodwill between the Subject and its suppliers and the Subject
may inadvertently have to pay more for its future supplies. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Acceptable |
[ |
0.99 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.38 Times |
] |
|
|
The Subject's liquid ratio was slightly low. This could indicate that the
Subject's working capital was slightly deficient. The Subject will have to
improve its liquidity position either by obtaining short term financing or
increase its paid up capital so that it can meet all its short term
obligations as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Favourable |
[ |
3,735.49 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The interest cover showed that the Subject was able to service the interest.
The favourable interest cover could indicate that the Subject was making
enough profit to pay for the interest accrued. The Subject had no gearing and
hence it had virtually no financial risk. The Subject was financed by its
shareholders' funds and internally generated fund. During the economic
downturn, the Subject, having a zero gearing, will be able to compete better
than those which are highly geared in the same industry. |
||||||
|
Overall
Assessment : |
||||||
|
Generally, the Subject's performance has improved with higher turnover
and profit. The Subject's liquidity was at an acceptable range. If the
Subject is able to obtain further short term financing, it should be able to meet
all its short term obligations. With the favourable interest cover, the
Subject could be able to service all the accrued interest without facing any
difficulties. 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 |
||||||
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
|
|
Being a moderate size company, the Subject
has a total workforce of 57 employees in its business operations. Overall, we
regard that the Subject's management capability is average. This indicates
that the Subject has greater potential to improve its business performance
and raising income for the Subject. We noted that both the turnover and
profits have increased compared to the previous year. The higher profit could
be due to increase in turnover and better control over its operating costs.
Return on shareholders' funds of the Subject was at a favourable range which
indicated that the management was efficient in utilising its funds to generate
income. The Subject managed to maintain an adequate liquidity level,
indicating that the Subject has the ability to meet its financial
obligations. Being a zero geared company, the Subject virtually has no
financial risk as it is mainly dependent on its internal funds to finance its
business. Given a positive net worth standing at SGD 27,281,108, the Subject
should be able to maintain its business in the near terms. Having a strong assets backing, the
Subject possesses latent assets as collateral for further financial
extension. Hence, it has good chance of getting loans if the needs arises. The Subject's payment habit is average.
With its adequate working capital, the Subject should be able to pay its
short term debts. The industry shows an upward trend and
this trend is very likely to sustain in the near terms. Hence, the Subject is
expected to benefit from the favourable outlook of the industry. Based on the above condition, we recommend
credit be granted to the Subject promptly. |
|
PROFIT
AND LOSS ACCOUNT
|
|
|
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS. |
|
SCHAEFER
SYSTEMSINTERNATIONAL 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 |
FULL |
SUMMARY |
SUMMARY |
|
Currency |
SGD |
SGD |
SGD |
SGD |
SGD |
|
TURNOVER |
113,342,231 |
74,139,129 |
68,308,894 |
51,120,215 |
55,684,920 |
|
Other Income |
2,075,178 |
2,106,052 |
1,456,473 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
115,417,409 |
76,245,181 |
69,765,367 |
51,120,215 |
55,684,920 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
9,272,741 |
4,334,230 |
2,969,428 |
3,405,254 |
3,697,352 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
9,272,741 |
4,334,230 |
2,969,428 |
3,405,254 |
3,697,352 |
|
Taxation |
(1,340,018) |
(639,438) |
(612,874) |
(514,597) |
(687,188) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
7,932,723 |
3,694,792 |
2,356,554 |
2,890,657 |
3,010,164 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
14,062,573 |
10,367,781 |
8,011,227 |
5,120,570 |
2,110,406 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
14,062,573 |
10,367,781 |
8,011,227 |
5,120,570 |
2,110,406 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
21,995,296 |
14,062,573 |
10,367,781 |
8,011,227 |
5,120,570 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
21,995,296 |
14,062,573 |
10,367,781 |
8,011,227 |
5,120,570 |
|
============= |
============= |
============= |
============= |
============= |
|
|
Lease interest |
2,483 |
7,481 |
3,514 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
2,483 |
7,481 |
3,514 |
- |
- |
|
|
============= |
============= |
============= |
- |
- |
|
|
DEPRECIATION (as per notes to P&L) |
441,974 |
407,382 |
335,337 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
441,974 |
407,382 |
335,337 |
- |
- |
|
|
============= |
============= |
============= |
BALANCE
SHEET
|
|
|
|
SCHAEFER
SYSTEMSINTERNATIONAL PTE LTD |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
2,348,831 |
2,722,773 |
2,786,833 |
3,069,460 |
3,058,369 |
|
LONG TERM
INVESTMENTS/OTHER ASSETS |
|||||
|
Subsidiary companies |
856,065 |
856,065 |
840,988 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
856,065 |
856,065 |
840,988 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
3,204,896 |
3,578,838 |
3,627,821 |
3,069,460 |
3,058,369 |
|
Stocks |
24,929,527 |
37,584,152 |
10,132,455 |
- |
- |
|
Trade debtors |
45,485,358 |
33,004,200 |
24,636,622 |
- |
- |
|
Other debtors, deposits & prepayments |
2,234,044 |
334,809 |
379,937 |
- |
- |
|
Short term deposits |
1,456,119 |
3,500,000 |
17,760,468 |
- |
- |
|
Amount due from subsidiary companies |
10,648 |
534,286 |
249,783 |
- |
- |
|
Amount due from related companies |
1,367,500 |
1,554,023 |
1,777,648 |
- |
- |
|
Cash & bank balances |
12,557,672 |
3,233,340 |
3,575,466 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
88,040,868 |
79,744,810 |
58,512,379 |
28,598,979 |
33,896,678 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
91,245,764 |
83,323,648 |
62,140,200 |
31,668,439 |
36,955,047 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade creditors |
32,913,611 |
16,095,888 |
16,294,791 |
- |
- |
|
Other creditors & accruals |
4,469,261 |
1,668,336 |
1,602,414 |
- |
- |
|
Amounts owing to subsidiary companies |
370,916 |
390,230 |
551,738 |
- |
- |
|
Amounts owing to related companies |
2,237,214 |
307,323 |
212,118 |
- |
- |
|
Provision for taxation |
1,338,075 |
610,781 |
439,854 |
- |
- |
|
Lease payables |
969 |
13,420 |
17,754 |
- |
- |
|
Other liabilities |
22,534,213 |
44,786,698 |
27,291,575 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
63,864,259 |
63,872,676 |
46,410,244 |
18,299,863 |
26,465,536 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
24,176,609 |
15,872,134 |
12,102,135 |
10,299,116 |
7,431,142 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
27,381,505 |
19,450,972 |
15,729,956 |
13,368,576 |
10,489,511 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
5,280,080 |
5,280,080 |
5,280,080 |
5,280,080 |
5,280,080 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
5,280,080 |
5,280,080 |
5,280,080 |
5,280,080 |
5,280,080 |
|
Exchange equalisation/fluctuation reserve |
5,732 |
6,953 |
2,745 |
- |
- |
|
Retained profit/(loss) carried forward |
21,995,296 |
14,062,573 |
10,367,781 |
8,011,227 |
5,120,570 |
|
Others |
- |
- |
- |
(2,895) |
(878) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
22,001,028 |
14,069,526 |
10,370,526 |
8,008,332 |
5,119,692 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
27,281,108 |
19,349,606 |
15,650,606 |
13,288,412 |
10,399,772 |
|
Lease obligations |
- |
969 |
14,389 |
- |
- |
|
Deferred taxation |
100,397 |
100,397 |
64,961 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
100,397 |
101,366 |
79,350 |
80,164 |
89,739 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
27,381,505 |
19,450,972 |
15,729,956 |
13,368,576 |
10,489,511 |
|
|
============= |
============= |
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
|
|
|
SCHAEFER
SYSTEMSINTERNATIONAL PTE LTD |
|
TYPES OF FUNDS |
|||||
|
Cash |
14,013,791 |
6,733,340 |
21,335,934 |
- |
- |
|
Net Liquid Funds |
14,013,791 |
6,733,340 |
21,335,934 |
- |
- |
|
Net Liquid Assets |
(752,918) |
(21,712,018) |
1,969,680 |
10,299,116 |
7,431,142 |
|
Net Current Assets/(Liabilities) |
24,176,609 |
15,872,134 |
12,102,135 |
10,299,116 |
7,431,142 |
|
Net Tangible Assets |
27,381,505 |
19,450,972 |
15,729,956 |
13,368,576 |
10,489,511 |
|
Net Monetary Assets |
(853,315) |
(21,813,384) |
1,890,330 |
10,218,952 |
7,341,403 |
|
BALANCE SHEET
ITEMS |
|||||
|
Total Borrowings |
0 |
969 |
14,389 |
- |
- |
|
Total Liabilities |
63,964,656 |
63,974,042 |
46,489,594 |
18,380,027 |
26,555,275 |
|
Total Assets |
91,245,764 |
83,323,648 |
62,140,200 |
31,668,439 |
36,955,047 |
|
Net Assets |
27,381,505 |
19,450,972 |
15,729,956 |
13,368,576 |
10,489,511 |
|
Net Assets Backing |
27,281,108 |
19,349,606 |
15,650,606 |
13,288,412 |
10,399,772 |
|
Shareholders' Funds |
27,281,108 |
19,349,606 |
15,650,606 |
13,288,412 |
10,399,772 |
|
Total Share Capital |
5,280,080 |
5,280,080 |
5,280,080 |
5,280,080 |
5,280,080 |
|
Total Reserves |
22,001,028 |
14,069,526 |
10,370,526 |
8,008,332 |
5,119,692 |
|
LIQUIDITY
(Times) |
|||||
|
Cash Ratio |
0.22 |
0.11 |
0.46 |
- |
- |
|
Liquid Ratio |
0.99 |
0.66 |
1.04 |
- |
- |
|
Current Ratio |
1.38 |
1.25 |
1.26 |
1.56 |
1.28 |
|
WORKING CAPITAL
CONTROL (Days) |
|||||
|
Stock Ratio |
80 |
185 |
54 |
- |
- |
|
Debtors Ratio |
146 |
162 |
132 |
- |
- |
|
Creditors Ratio |
106 |
79 |
87 |
- |
- |
|
SOLVENCY RATIOS
(Times) |
|||||
|
Gearing Ratio |
0.00 |
0.00 |
0.00 |
- |
- |
|
Liabilities Ratio |
2.34 |
3.31 |
2.97 |
1.38 |
2.55 |
|
Times Interest Earned Ratio |
3,735.49 |
580.37 |
846.03 |
- |
- |
|
Assets Backing Ratio |
5.19 |
3.68 |
2.98 |
2.53 |
1.99 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating Profit Margin |
8.18 |
5.85 |
4.35 |
6.66 |
6.64 |
|
Net Profit Margin |
7.00 |
4.98 |
3.45 |
5.65 |
5.41 |
|
Return On Net Assets |
33.87 |
22.32 |
18.90 |
25.47 |
35.25 |
|
Return On Capital Employed |
33.87 |
22.32 |
18.90 |
25.47 |
35.25 |
|
Return On Shareholders' Funds/Equity |
29.08 |
19.09 |
15.06 |
21.75 |
28.94 |
|
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. 63.57 |
|
|
1 |
Rs. 99.66 |
|
Euro |
1 |
Rs. 70.92 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPT |
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.