MIRA INFORM REPORT

 

 

Report No. :

347735

Report Date :

04.11.2015

 

IDENTIFICATION DETAILS

 

Name :

MMTC TRANSNATIONAL PTE LTD

 

 

Registered Office :

3, Raffles Place, 08-01, Bharat Building, 048617,

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

07.10.1991

 

 

Com. Reg. No.:

199407265-M

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Subject is engaged in the trading of commodity products.

 

 

No. of Employees :

9

 

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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 of consumer electronics, information technology products, medical and optical devices, pharmaceuticals, and on its vibrant transportation, business, and financial services sectors. The economy contracted 0.6% in 2009 as a result of the global financial crisis, but has continued to grow since 2010 on the strength of renewed exports. Growth in 2014 was slower at 2.9%, largely a result of soft demand for exports amid a sluggish global economy and weak growth in Singapore’s manufacturing sector. The government is attempting to restructure Singapore’s economy by weaning its dependence on foreign labor, addressing weak productivity, and increasing Singaporean wages. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to strengthen its position as Southeast Asia's leading financial and high-tech hub. Singapore is a member of the 12-nation Trans-Pacific Partnership free trade negotiations, the Regional Comprehensive Economic Partnership negotiations with the nine other ASEAN members plus Australia, China, India, Japan, South Korea and New Zealand, and in 2015, Singapore will form, with the other ASEAN members, the ASEAN Economic Community.

 

Source : CIA

EXECUTIVE SUMMARY

 

 

 

REGISTRATION NO.

:

199407265-M

COMPANY NAME

:

MMTC TRANSNATIONAL PTE LTD

FORMER NAME

:

N/A

INCORPORATION DATE

:

07/10/1994

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

3, RAFFLES PLACE, 08-01, BHARAT BUILDING, 048617, SINGAPORE.

BUSINESS ADDRESS

:

3, RAFFLES PLACE, #8-01, BHARAT BUILDING, 048617, SINGAPORE.

TEL.NO.

:

65-65385313

FAX.NO.

:

65-65385313

WEB SITE

:

WWW.MTPL.COM.SG

CONTACT PERSON

:

RAJENDER PRASAD ( MANAGING DIRECTOR )

PRINCIPAL ACTIVITY

:

TRADING OF COMMODITY PRODUCTS

ISSUED AND PAID UP CAPITAL

:

1,461,502.00 ORDINARY SHARE, OF A VALUE OF SGD 1,461,502.00 

SALES

:

USD 369,456,359 [2014]

NET WORTH

:

USD 15,513,663 [2014]

STAFF STRENGTH

:

9 [2015]

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

SATISFACTORY

PAYMENT

:

SLOW BUT CORRECT

MANAGEMENT CAPABILITY

:

AVERAGE

COMMERCIAL RISK

:

LOW

CURRENCY EXPOSURE

:

MODERATE

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 commodity products.

 

The immediate holding company of the Subject is MMTC LIMITED, a company incorporated in INDIA.

Share Capital History

Date

Issue & Paid Up Capital

30/10/2015

SGD 1,461,502.00

 

The major shareholder(s) of the Subject are shown as follows :

 

Current Shareholder(s) :

Name

Address

IC/PP/Loc No

Shareholding

(%)

MMTC LIMITED

CORE 1, SCOPE COMPLEX 7, INSTITUTIONAL AREA, LODI ROAD, 110003, NEW DELHI, INDIA.

S94UF0389A

1,461,502.00

100.00

---------------

------

1,461,502.00

100.00

============

=====

+ Also Director

 

 

DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

MADAN GOPAL GUPTA

Address

:

B-48, SECTOR-12, NOIDA (UP), 201301, INDIA.

IC / PP No

:

B5156384

Nationality

:

INDIAN

Date of Appointment

:

16/11/2010

 

DIRECTOR 2

 

Name Of Subject

:

RAJEEV JAIDEVA

Address

:

FLAT 163, PKT1 SEC-1, DWARKA, 1ST FLOOR, NEW DELHI, INDIA.

IC / PP No

:

E6898549

Nationality

:

INDIAN

Date of Appointment

:

11/10/2010

 

DIRECTOR 3

 

Name Of Subject

:

VED PRAKASH

Address

:

63, BF BLOCK, JANAKPURI, NEW DELHI, INDIA.

IC / PP No

:

G2160970

Nationality

:

INDIAN

Date of Appointment

:

11/10/2010

 

 

 

DIRECTOR 4

 

Name Of Subject

:

ANAND TRIVEDI

Address

:

E-4, MMTC COLONY, ADH CHINI, AUROBINDO MARG, NEW DELHI, 110017, INDIA.

IC / PP No

:

J6697836

Nationality

:

INDIAN

Date of Appointment

:

25/07/2012

 

DIRECTOR 5

 

Name Of Subject

:

PRAVEEN KUMAR JAIN

Address

:

C-106, SEC-26, NOIDA, DISTT GAUTAM BUDH NAGAR, U.P., INDIA.

IC / PP No

:

G5902153

Nationality

:

INDIAN

Date of Appointment

:

15/05/2013

 

DIRECTOR 6

 

Name Of Subject

:

DEEPAK KUMAR DUA

Address

:

1, JALAN KUALA, 04-03, MORNINGSIDE, 239639, SINGAPORE.

IC / PP No

:

G3070573X

Nationality

:

INDIAN

Date of Appointment

:

11/07/2014

 

DIRECTOR 7

 

Name Of Subject

:

RAJENDER PRASAD

Address

:

263, RIVER VALLEY ROAD, 03-06, ASPEN HEIGHTS, 238309, SINGAPORE.

IC / PP No

:

G3082582P

Nationality

:

INDIAN

Date of Appointment

:

01/09/2014



MANAGEMENT

 

 

1)

Name of Subject

:

RAJENDER PRASAD

Position

:

MANAGING DIRECTOR

 

 

 

AUDITOR

 

Auditor

:

PRICEWATER HOUSECOOP ERS LLP

Auditor' Address

:

N/A

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

TAY TUAN LENG

IC / PP No

:

S7432140B

Address

:

469B, SENGKANG WEST WAY, 19-614, 792469, SINGAPORE.

 

2)

Company Secretary

:

JOANNA LIM LAN SIM

IC / PP No

:

S1572261D

Address

:

165, TAMPINES STREET 12, 09-305, 521165, 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 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

:

YES

Overseas

:

YES



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

:

YES

Domestic Markets

:

SINGAPORE

Overseas

:

YES

Export Market

:

ASIA PACIFIC

Credit Term

:

N/A

Payment Mode

:

CHEQUES
TELEGRAPHIC TRANSFER (TT)

 

 

OPERATIONS

 

Goods Traded

:

COMMODITY PRODUCTS

 

Total Number of Employees:

YEAR

2015

GROUP

N/A

COMPANY

9

 

Branch

:

NO

Other Information:


The Subject is principally engaged in the (as a / as an) trading of commodity products. 

The Subject trades in Minerals, Metals, Agro-products, Coal and Hydrocarbons, Fertilizers & Chemicals and Engineering goods. 


CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

6565385313

Current Telephone Number

:

65-65385313

Match

:

YES

Address Provided by Client

:

3, RAFFLES PLACE, #8-01, BHARAT BUILDING, SINGAPORE 048617

Current Address

:

3, RAFFLES PLACE, #8-01, BHARAT BUILDING, 048617, SINGAPORE.

Match

:

YES

 

Other Investigations


We contacted one of the staff from the Subject and he provided some information.


FINANCIAL ANALYSIS

 

Profitability

Turnover

:

Decreased

[

38.48%

]

Profit/(Loss) Before Tax

:

Decreased

[

99.87%

]

Return on Shareholder Funds

:

Unfavourable

[

0.42%

]

Return on Net Assets

:

Unfavourable

[

4.81%

]

The shrinking turnover could be the result of more entrants into the market which eroded the Subject's market share.The Subject's profit fell sharply because of the high operating costs incurred. 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

[

0 Days

]

Debtor Ratio

:

Favourable

[

8 Days

]

Creditors Ratio

:

Favourable

[

1 Days

]

The Subject's stocks were moving fast thus reducing its holding cost. This had reduced funds being tied up in stocks. The favourable debtors' days could be due to the good credit control measures implemented by the Subject. The Subject had a favourable creditors' ratio where the Subject could be taking advantage of the cash discounts and also wanting to maintain goodwill with its creditors.

Liquidity

Liquid Ratio

:

Favourable

[

1.93 Times

]

Current Ratio

:

Unfavourable

[

1.93 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

:

Unfavourable

[

1.00 Times

]

Gearing Ratio

:

Favourable

[

0.52 Times

]

The Subject's interest cover was low. If its profits fall or when interest rate rises, it  may not be able to meet all its interest payment. The Subject was lowly geared thus it had a low financial risk. The Subject was mainly financed by its shareholders' funds and internally generated funds. In times of economic slowdown / downturn, the Subject being a lowly geared company, will be able to compete better than those companies which are highly geared in the same industry.

Overall Assessment :

The Subject's performance deteriorated over the years with lower turnover and profit. 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. If there is a fall in the Subject's profit or any increase in interest rate, the Subject may not be able to generate sufficient cash-flow to service its interest. The Subject as a lowly geared company, will be more secured compared to those highly geared companies. It has the ability to meet all its long term obligations.

Overall financial condition of the Subject : LIMITED

 

 

SINGAPORE ECONOMIC / INDUSTRY OUTLOOK

 

Major Economic Indicators :

2010

2011

2012

2013

2014

 

Population (Million)

5.08

5.18

5.31

5.40

5.47

Gross Domestic Products ( % )

14.5

4.9

1.3

3.7

(3.5)

Consumer Price Index

2.8

5.2

4.6

2.4

2.4

Total Imports (Million)

423,221.8

459,655.1

474,554.0

466,762.0

463,779.1

Total Exports (Million)

478,840.7

514,741.2

510,329.0

513,391.0

518,922.7

 

Unemployment Rate (%)

2.2

2.1

2.0

1.9

1.9

Tourist Arrival (Million)

11.64

13.17

14.49

15.46

15.01

Hotel Occupancy Rate (%)

85.6

86.5

86.4

86.3

85.5

Cellular Phone Subscriber (Million)

1.43

1.50

1.52

1.97

1.98

 

Registration of New Companies (No.)

29,798

32,317

31,892

37,288

41,589

Registration of New Companies (%)

12.8

8.5

(1.3)

9.8

11.5

Liquidation of Companies (No.)

15,126

19,005

17,218

17,369

18,767

Liquidation of Companies (%)

(32.5)

25.6

9.4

(5.3)

8.0

 

Registration of New Businesses (No.)

23,978

23,494

24,788

22,893

35,773

Registration of New Businesses (%)

(10.78)

2.02

5.51

1.70

56.30

Liquidation of Businesses (No.)

24,211

23,005

22,489

22,598

22,098

Liquidation of Businesses (%)

2.8

(5)

(2.2)

0.5

(2.2)

 

Bankruptcy Orders (No.)

1,537

1,527

1,748

1,992

1,757

Bankruptcy Orders (%)

(25.3)

(0.7)

14.5

14.0

(11.8)

Bankruptcy Discharges (No.)

2,252

1,391

1,881

2,584

3,546

Bankruptcy Discharges (%)

(26.3)

(38.2)

35.2

37.4

37.2

 

INDUSTRIES ( % of Growth ) :

Agriculture

Production of Principal Crops

(0.48)

4.25

3.64

-

Fish Supply & Wholesale

(10.5)

12.10

(0.5)

-

2.80

 

Manufacturing *

92.8

100.0

100.3

102.0

Food, Beverages & Tobacco

96.4

100.0

103.5

103.5

105.0

Textiles

122.1

100.0

104.0

87.1

74.9

Wearing Apparel

123.3

100.0

92.1

77.8

49.5

Leather Products & Footwear

81.8

100.0

98.6

109.8

95.9

Wood & Wood Products

104.0

100.0

95.5

107.4

112.0

Paper & Paper Products

106.1

100.0

97.4

103.2

103.4

Printing & Media

103.5

100.0

93.0

86.1

80.3

Crude Oil Refineries

95.6

100.0

99.4

93.5

85.6

Chemical & Chemical Products

97.6

100.0

100.5

104.1

114.0

Pharmaceutical Products

75.3

100.0

109.7

107.2

115.7

Rubber & Plastic Products

112.3

100.0

96.5

92.9

92.8

Non-metallic Mineral

92.5

100.0

98.2

97.6

82.2

Basic Metals

102.2

100.0

90.6

76.5

98.3

Fabricated Metal Products

103.6

100.0

104.3

105.1

105.1

Machinery & Equipment

78.5

100.0

112.9

114.5

124.0

Electrical Machinery

124.1

100.0

99.3

108.5

121.3

Electronic Components

113.6

100.0

90.6

94.3

95.0

Transport Equipment

94.0

100.0

106.3

107.5

103.2

 

Construction

14.20

20.50

28.70

-

22.00

Real Estate

21.3

25.4

31.9

-

145.1

 

Services

Electricity, Gas & Water

4.00

7.00

6.30

-

Transport, Storage & Communication

12.80

7.40

5.30

-

14.20

Finance & Insurance

(0.4)

8.90

0.50

-

6.00

Government Services

9.70

6.90

6.00

-

Education Services

(0.9)

(1.4)

0.30

-

5.98

 

* 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

 


Incorporated in 1994, the Subject is a Private Limited company, focusing on trading of commodity products. The Subject has been in business for over two decades. It has built up a strong clientele base and satisfactory reputation will enable the Subject to further enhance its business in the near term. The Subject is expected to enjoy a stable market shares. A paid up capital of SGD 1,461,502 allows the Subject to expand its business more comfortably. With a strong backing from its holding company, the Subject enjoys timely financial assistance should the needs arise. 

Over the years, the Subject has penetrated into both the local and overseas market. The Subject has positioned itself in the global market and is competing in the industry. Its stable clientele base will enable the Subject to further enhance its business in the near term. Being a small company, the Subject's business operation is supported by 9 employees. 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. 

The Subject's business performance showed a reverse trend as both its turnover and pre-tax profit have decreased compared to the previous year. 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. Being a lowly geared company, the Subject is exposed to low financial risk as it is mainly dependent on its internal funds to finance its business needs. Given a positive net worth standing at USD 15,513,663, the Subject should be able to maintain its business in the near terms. 

The Subject's supplier are from both the local and overseas countries. This will eliminates the risk of dependency on deliveries from a number of key suppliers and insufficient quantities of its raw materials. Overall the Subject has a good control over its resources. 

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 promptly.

 

 

 

PROFIT AND LOSS ACCOUNT

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS.

MMTC TRANSNATIONAL PTE LTD

 

Financial Year End

2014-03-31

2013-03-31

Months

12

12

Consolidated Account

Company

Company

Audited Account

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

Financial Type

FULL

FULL

Currency

USD

USD

TURNOVER

369,456,359

600,589,940

----------------

----------------

Total Turnover

369,456,359

600,589,940

----------------

----------------

PROFIT/(LOSS) FROM OPERATIONS

3,184

2,499,696

----------------

----------------

PROFIT/(LOSS) BEFORE TAXATION

3,184

2,499,696

Taxation

61,750

(388,905)

----------------

----------------

PROFIT/(LOSS) AFTER TAXATION

64,934

2,110,791

----------------

----------------

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

14,448,729

14,212,636

----------------

----------------

As restated

14,448,729

14,212,636

----------------

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

14,513,663

16,323,427

DIVIDENDS - Preference

-

(1,874,698)

----------------

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

14,513,663

14,448,729

=============

=============

INTEREST EXPENSE (as per notes to P&L)

Trust receipts

46,713

171,386

Others

696,421

2,577,771

----------------

----------------

743,134

2,749,157

=============

=============

DEPRECIATION (as per notes to P&L)

18,322

42,697

----------------

----------------

18,322

42,697

=============

=============

 

 

 

BALANCE SHEET

 

MMTC TRANSNATIONAL PTE LTD

 

ASSETS EMPLOYED:

FIXED ASSETS

2,357

20,679

----------------

----------------

TOTAL LONG TERM ASSETS

2,357

20,679

Stocks

5,478

5,478

Trade debtors

8,258,880

703,605

Other debtors, deposits & prepayments

290,953

454,617

Short term deposits

15,027,000

16,156,954

Amount due from holding company

8,303,033

16,061,667

Cash & bank balances

324,812

204,584

----------------

----------------

TOTAL CURRENT ASSETS

32,210,156

33,586,905

----------------

----------------

TOTAL ASSET

32,212,513

33,607,584

=============

=============

CURRENT LIABILITIES

Trade creditors

506,963

3,895,986

Other creditors & accruals

74,505

238,781

Short term borrowings/Term loans

8,097,055

11,642,884

Amounts owing to holding company

7,978,353

156,229

Provision for taxation

41,974

350,277

Dividends payable/proposed

-

1,874,698

----------------

----------------

TOTAL CURRENT LIABILITIES

16,698,850

18,158,855

----------------

----------------

NET CURRENT ASSETS/(LIABILITIES)

15,511,306

15,428,050

----------------

----------------

TOTAL NET ASSETS

15,513,663

15,448,729

=============

=============

SHARE CAPITAL

Ordinary share capital

1,000,000

1,000,000

----------------

----------------

TOTAL SHARE CAPITAL

1,000,000

1,000,000

Retained profit/(loss) carried forward

14,513,663

14,448,729

----------------

----------------

TOTAL RESERVES

14,513,663

14,448,729

----------------

----------------

SHAREHOLDERS' FUNDS/EQUITY

15,513,663

15,448,729

----------------

----------------

15,513,663

15,448,729

=============

=============

 

 

 

FINANCIAL RATIO

 

MMTC TRANSNATIONAL PTE LTD

 

TYPES OF FUNDS

Cash

15,351,812

16,361,538

Net Liquid Funds

15,351,812

16,361,538

Net Liquid Assets

15,505,828

15,422,572

Net Current Assets/(Liabilities)

15,511,306

15,428,050

Net Tangible Assets

15,513,663

15,448,729

Net Monetary Assets

15,505,828

15,422,572

PROFIT & LOSS ITEMS

Earnings Before Interest & Tax (EBIT)

746,318

5,248,853

Earnings Before Interest, Taxes, Depreciation And Amortization (EBITDA)

764,640

5,291,550

BALANCE SHEET ITEMS

Total Borrowings

8,097,055

11,642,884

Total Liabilities

16,698,850

18,158,855

Total Assets

32,212,513

33,607,584

Net Assets

15,513,663

15,448,729

Net Assets Backing

15,513,663

15,448,729

Shareholders' Funds

15,513,663

15,448,729

Total Share Capital

1,000,000

1,000,000

Total Reserves

14,513,663

14,448,729

LIQUIDITY (Times)

Cash Ratio

0.92

0.90

Liquid Ratio

1.93

1.85

Current Ratio

1.93

1.85

WORKING CAPITAL CONTROL (Days)

Stock Ratio

0

0

Debtors Ratio

8

0

Creditors Ratio

1

2

SOLVENCY RATIOS (Times)

Gearing Ratio

0.52

0.75

Liabilities Ratio

1.08

1.18

Times Interest Earned Ratio

1.00

1.91

Assets Backing Ratio

15.51

15.45

PERFORMANCE RATIO (%)

Operating Profit Margin

0

0.42

Net Profit Margin

0.02

0.35

Return On Net Assets

4.81

33.98

Return On Capital Employed

4.81

33.98

Return On Shareholders' Funds/Equity

0.42

13.66

Dividend Pay Out Ratio (Times)

0

0

NOTES TO ACCOUNTS

Contingent Liabilities

0

0




 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.45

UK Pound

1

Rs.100.96

Euro

1

Rs.72.10

 

INFORMATION DETAILS

 

Analysis Done by :

HNA

 

 

Report Prepared by :

TRU

 

               

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.