|
Report No. : |
322790 |
|
Report Date : |
23.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
TOMEN (SINGAPORE) ELECTRONICS PTE LTD |
|
|
|
|
Registered Office : |
600, North Bridge Road, 18-06, Parkview Square, 188778 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
04.03.1995 |
|
|
|
|
Com. Reg. No.: |
199501523-H |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Wholesale of electronic components |
|
|
|
|
No of Employees : |
50 [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 : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low 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. |
: |
199501523-H |
|
COMPANY NAME |
: |
TOMEN (SINGAPORE)
ELECTRONICS PTE LTD |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
04/03/1995 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
600, NORTH BRIDGE ROAD, 18-06, PARKVIEW
SQUARE, 188778, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
175A BENCOOLEN STREET, #09-12 BURLINGTON
SQUARE, 189650, SINGAPORE. |
|
TEL.NO. |
: |
65-62211422 |
|
FAX.NO. |
: |
65-62210400 |
|
CONTACT PERSON |
: |
LEONG KHAI MUN ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
WHOLESALE OF ELECTRONIC COMPONENTS |
|
ISSUED AND PAID UP CAPITAL |
: |
500,000.00 ORDINARY SHARE, OF A VALUE OF
SGD 500,000.00 |
|
SALES |
: |
USD 186,347,365 [2013] |
|
NET WORTH |
: |
USD 20,410,040 [2013] |
|
STAFF STRENGTH |
: |
50 [2015] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
LIMITED |
|
PAYMENT |
: |
GOOD |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
HISTORY
/ BACKGROUND
|
The Subject is a private limited company and is allowed to have a minimum of one and a maximum of forty-nine shareholders. As a private limited company, the Subject must have at least two directors. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the Subject is capable of owning assets, entering into contracts, sue or be sued by other companies. The liabilities of the shareholders are to the extent of the equity they have taken up and the creditors cannot claim on shareholders' personal assets even if the Subject is insolvent. The Subject is governed by the Companies Act and the company must file its annual returns, together with its financial statements with the Registrar of Companies.
The Subject is principally engaged in the (as a / as an) wholesale of electronic components.
The immediate holding company of the Subject is TOMEN ELECTRONICS CORPORATION, a company incorporated in JAPAN.
Share Capital History
|
Date |
Issue & Paid
Up Capital |
|
19/05/2015 |
SGD 500,000.00 |
The major shareholder(s) of the Subject are
shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
TOMEN ELECTRONICS CORPORATION |
3-13, KONAN 2-CHOME, MINATO-KU, TOKYO,
108-8510, JAPAN. |
T03UF0318 |
500,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
500,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
819518U |
MALAYSIA |
TOMEN ELECTRONICS (MALAYSIA) SDN. BHD. |
100.00 |
31/12/2013 |
|
INDIA |
TOMEN ELECTRONICS (INDIA) PVT. LTD. |
95.00 |
31/12/2013 |
|
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MINORU HIRATA |
|
Address |
: |
4-1-106, 7-CHOME, KINUTA, SETAGAYA-KU,
TOKYO, 157-0073, JAPAN. |
|
IC / PP No |
: |
TZ0402311 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
06/08/2010 |
DIRECTOR 2
|
Name Of Subject |
: |
TAKEO SUZUKI |
|
Address |
: |
2-403, 5-4, CHUORINKAN 6CHOME, YAMATO-SHI,
KANAGAWA, 242-0007, JAPAN. |
|
IC / PP No |
: |
TK0064040 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
20/06/2013 |
DIRECTOR 3
|
Name Of Subject |
: |
LEONG KHAI MUN |
|
Address |
: |
79, FARRER DRIVE, 12-02, SOMMERVILLE PARK,
259283, SINGAPORE. |
|
IC / PP No |
: |
S1471316F |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
20/02/2008 |
DIRECTOR 4
|
Name Of Subject |
: |
TAKASHI ISHIBASHI |
|
Address |
: |
2-24-21-101, YOSHIMOTO-CHO, KOHOKU-KU,
YOKOHAMA-CITY, KANAGAWA, 2230062, JAPAN. |
|
IC / PP No |
: |
TK9021200 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/01/2009 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
LEONG KHAI MUN |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
PRICEWATERHOUSECOOPERS LLP |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
LOTUS ISABELLA LIM MEI HUA |
|
IC / PP No |
: |
S2171051B |
|
|
Address |
: |
606, CLEMENTI WEST STREET 1, 04-53,
120606, SINGAPORE. |
|
|
2) |
Company Secretary |
: |
MS. LIN MOI HEYANG |
|
IC / PP No |
: |
S2750922C |
|
|
Address |
: |
210, ANG MO KIO AVENUE 3, 07-1614, 560210,
SINGAPORE. |
|
BANKING
|
No Banker found in our databank.
ENCUMBRANCE
(S)
|
No encumbrance was found in our databank at the time of investigation.
LITIGATION
CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank 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 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 |
[ |
X |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its clientele.
OPERATIONS
|
|
Goods Traded |
: |
ELECTRONIC COMPONENTS |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2015 |
2014 |
|||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
50 |
50 |
|||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) wholesale of
electronic components.
The Subject distributes electronic devices,
such as semiconductors, communication systems, and computer peripherals.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62211422 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
600 NORTH BRIDGE ROAD,NO.18-06 PARKVIEW
SQUARE, SINGAPORE 188778 |
|
Current Address |
: |
175A BENCOOLEN STREET, #09-12 BURLINGTON SQUARE,
189650, SINGAPORE. |
|
Match |
: |
NO |
Other
Investigations
We contacted one of the staff from the Subject and she provided some
information.
The Subject is not aware of the address provided.
FINANCIAL
ANALYSIS
|
|
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2009 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2009 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
1.34% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
1.93% |
] |
|
|
The fluctuating turnover reflects the fierce competition among the
existing and new market players. The dip in profit could be due to the stiff
market competition which reduced the Subject's profit margin. The unfavourable
return on shareholders' funds could indicate that the Subject was inefficient
in utilising its assets to generate returns. |
||||||
|
Working Capital
Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
34 Days |
] |
|
|
Debtor Ratio |
: |
Acceptable |
[ |
61 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
19 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding cost. This
had reduced funds being tied up in stocks. The Subject's management was quite
efficient in handling its debtors. The Subject's debtors days were at an
acceptable range, thus the risk of its debts turning bad was minimised. 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 |
[ |
1.62 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 |
[ |
3.41 Times |
] |
|
|
Gearing Ratio |
: |
Acceptable |
[ |
0.84 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's gearing was slightly high. The Subject is utilising the
leverage concept to fund its expansion. However, the high gearing has added
financial risks to the Subject. It will be more vulnerable in times of
economy downturn. |
||||||
|
Overall
Assessment : |
||||||
|
The Subject recorded lower profits as its turnover showed a erratic trend.
The Subject's management was unable to control its costs efficiently as its
profit showed a downward trend. 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 was slightly high and its
financial risk was also high. If no plans are made to reduce its gearing, the
Subject's performance may deteriorate in the coming year. |
||||||
|
Overall
financial condition of the Subject : LIMITED |
||||||
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
|
|
Financially, the Subject registered a
higher turnover compared to previous year. However, its profits showed a
reverse trend. The lower profit achieved was a result of higher operating
cost and increased competition. The Subject has generated an unfavourable
return on shareholders' funds indicating that the management was inefficient
in utilising its funds to generate return. The Subject is in good liquidity
position with its current liabilities well covered by it current assets.
Hence, it has sufficient working capital to meet its short term financial
obligations. The gearing level of the Subject is slightly high, therefore it
faces moderate financial risk. Given a positive net worth standing at USD
20,410,040, the Subject should be able to maintain its business in the near
terms. Overall, the Subject's payment habit is
good as the Subject has a good credit control and it could be taking
advantage of the cash discounts while maintaining a good reputation with its
creditors. 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 normally. |
|
|
PROFIT
AND LOSS ACCOUNT
|
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS. |
|
TOMEN
(SINGAPORE) ELECTRONICS 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 |
USD |
USD |
USD |
SGD |
SGD |
|
TURNOVER |
186,347,365 |
181,222,227 |
202,223,363 |
313,450,461 |
202,249,788 |
|
Other Income |
325,363 |
204,412 |
827 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
186,672,728 |
181,426,639 |
202,224,190 |
313,450,461 |
202,249,788 |
|
Costs of Goods Sold |
(178,806,248) |
(173,180,701) |
(193,047,161) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
7,866,480 |
8,245,938 |
9,177,029 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
277,714 |
299,854 |
1,237,150 |
1,501,298 |
362,689 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
277,714 |
299,854 |
1,237,150 |
1,501,298 |
362,689 |
|
Taxation |
(4,172) |
(44,782) |
(26,323) |
(319,043) |
(99,241) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
273,542 |
255,072 |
1,210,827 |
1,182,255 |
263,448 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
19,779,355 |
19,524,283 |
18,313,456 |
21,945,388 |
21,681,940 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
19,779,355 |
19,524,283 |
18,313,456 |
21,945,388 |
21,681,940 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
20,052,897 |
19,779,355 |
19,524,283 |
23,127,643 |
21,945,388 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
20,052,897 |
19,779,355 |
19,524,283 |
23,127,643 |
21,945,388 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE
(as per notes to P&L) |
|||||
|
Term loan / Borrowing |
115,229 |
120,250 |
119,123 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
115,229 |
120,250 |
119,123 |
- |
- |
|
|
============= |
============= |
============= |
- |
- |
|
BALANCE
SHEET
|
|
|
|
TOMEN
(SINGAPORE) ELECTRONICS PTE LTD |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
163,358 |
236,259 |
241,037 |
639,514 |
578,260 |
|
LONG TERM
INVESTMENTS/OTHER ASSETS |
|||||
|
Subsidiary companies |
184,249 |
184,249 |
184,249 |
- |
- |
|
Deferred assets |
41,651 |
43,004 |
87,133 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
225,900 |
227,253 |
271,382 |
- |
- |
|
Others |
6,383 |
6,383 |
6,383 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
6,383 |
6,383 |
6,383 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
395,641 |
469,895 |
518,802 |
639,514 |
578,260 |
|
Stocks |
17,461,522 |
18,941,603 |
20,839,123 |
- |
- |
|
Trade debtors |
31,032,885 |
36,775,028 |
28,212,347 |
- |
- |
|
Other debtors, deposits & prepayments |
204,718 |
217,552 |
122,459 |
- |
- |
|
Amount due from holding company |
5,528 |
774 |
25,584 |
- |
- |
|
Amount due from subsidiary companies |
320,931 |
371,968 |
57,561 |
- |
- |
|
Amount due from related companies |
2,046,649 |
1,844,240 |
1,940,221 |
- |
- |
|
Cash & bank balances |
977,658 |
1,589,206 |
3,778,568 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
52,049,891 |
59,740,371 |
54,975,863 |
83,604,713 |
61,358,209 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
52,445,532 |
60,210,266 |
55,494,665 |
84,244,227 |
61,936,469 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade creditors |
9,089,345 |
9,615,565 |
7,578,287 |
- |
- |
|
Other creditors & accruals |
692,842 |
698,558 |
84,194 |
- |
- |
|
Short term borrowings/Term loans |
17,134,378 |
25,654,000 |
23,112,000 |
- |
- |
|
Amounts owing to holding company |
4,111,375 |
3,019,474 |
4,006,374 |
- |
- |
|
Amounts owing to subsidiary companies |
132,640 |
68,367 |
71,472 |
- |
- |
|
Amounts owing to related companies |
872,093 |
1,017,804 |
641,716 |
- |
- |
|
Provision for taxation |
2,819 |
- |
119,196 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
32,035,492 |
40,073,768 |
35,613,239 |
60,616,584 |
39,491,082 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
20,014,399 |
19,666,603 |
19,362,624 |
22,988,129 |
21,867,128 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
20,410,040 |
20,136,498 |
19,881,426 |
23,627,643 |
22,445,388 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
357,143 |
357,143 |
357,143 |
500,000 |
500,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
357,143 |
357,143 |
357,143 |
500,000 |
500,000 |
|
Retained profit/(loss) carried forward |
20,052,897 |
19,779,355 |
19,524,283 |
23,127,643 |
21,945,388 |
|
Others |
- |
- |
- |
0 |
0 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
20,052,897 |
19,779,355 |
19,524,283 |
23,127,643 |
21,945,388 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
20,410,040 |
20,136,498 |
19,881,426 |
23,627,643 |
22,445,388 |
|
TOTAL LONG TERM LIABILITIES |
- |
- |
- |
0 |
0 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
20,410,040 |
20,136,498 |
19,881,426 |
23,627,643 |
22,445,388 |
|
|
============= |
============= |
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
|
|
|
TOMEN (SINGAPORE)
ELECTRONICS PTE LTD |
|
TYPES OF FUNDS |
|||||
|
Cash |
977,658 |
1,589,206 |
3,778,568 |
- |
- |
|
Net Liquid Funds |
977,658 |
1,589,206 |
3,778,568 |
- |
- |
|
Net Liquid Assets |
2,552,877 |
725,000 |
(1,476,499) |
22,988,129 |
21,867,128 |
|
Net Current Assets/(Liabilities) |
20,014,399 |
19,666,603 |
19,362,624 |
22,988,129 |
21,867,128 |
|
Net Tangible Assets |
20,403,657 |
20,130,115 |
19,875,043 |
23,627,643 |
22,445,388 |
|
Net Monetary Assets |
2,552,877 |
725,000 |
(1,476,499) |
22,988,129 |
21,867,128 |
|
BALANCE SHEET
ITEMS |
|||||
|
Total Borrowings |
17,134,378 |
25,654,000 |
23,112,000 |
- |
- |
|
Total Liabilities |
32,035,492 |
40,073,768 |
35,613,239 |
60,616,584 |
39,491,082 |
|
Total Assets |
52,445,532 |
60,210,266 |
55,494,665 |
84,244,227 |
61,936,469 |
|
Net Assets |
20,410,040 |
20,136,498 |
19,881,426 |
23,627,643 |
22,445,388 |
|
Net Assets Backing |
20,410,040 |
20,136,498 |
19,881,426 |
23,627,643 |
22,445,388 |
|
Shareholders' Funds |
20,410,040 |
20,136,498 |
19,881,426 |
23,627,643 |
22,445,388 |
|
Total Share Capital |
357,143 |
357,143 |
357,143 |
500,000 |
500,000 |
|
Total Reserves |
20,052,897 |
19,779,355 |
19,524,283 |
23,127,643 |
21,945,388 |
|
LIQUIDITY
(Times) |
|||||
|
Cash Ratio |
0.03 |
0.04 |
0.11 |
- |
- |
|
Liquid Ratio |
1.08 |
1.02 |
0.96 |
- |
- |
|
Current Ratio |
1.62 |
1.49 |
1.54 |
1.38 |
1.55 |
|
WORKING CAPITAL
CONTROL (Days) |
|||||
|
Stock Ratio |
34 |
38 |
38 |
- |
- |
|
Debtors Ratio |
61 |
74 |
51 |
- |
- |
|
Creditors Ratio |
19 |
20 |
14 |
- |
- |
|
SOLVENCY RATIOS
(Times) |
|||||
|
Gearing Ratio |
0.84 |
1.27 |
1.16 |
- |
- |
|
Liabilities Ratio |
1.57 |
1.99 |
1.79 |
2.57 |
1.76 |
|
Times Interest Earned Ratio |
3.41 |
3.49 |
11.39 |
- |
- |
|
Assets Backing Ratio |
57.13 |
56.36 |
55.65 |
47.26 |
44.89 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating Profit Margin |
0.15 |
0.17 |
0.61 |
0.48 |
0.18 |
|
Net Profit Margin |
0.15 |
0.14 |
0.60 |
0.38 |
0.13 |
|
Return On Net Assets |
1.93 |
2.09 |
6.82 |
6.35 |
1.62 |
|
Return On Capital Employed |
1.92 |
2.09 |
6.82 |
6.35 |
1.62 |
|
Return On Shareholders' Funds/Equity |
1.34 |
1.27 |
6.09 |
5.00 |
1.17 |
|
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
: |
RSM |
|
|
|
|
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.