|
Report No. : |
348009 |
|
Report Date : |
06.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
SPECTRIS PTE. LTD. |
|
|
|
|
Formerly Known As : |
BTG SEA PTE LTD SPECTRIS PTE LTD BTG BONNIER TECHNOLOGY PTE LTD |
|
|
|
|
Registered Office : |
31, Kaki Bukit Road 3, 04-05, Techlink,
417818 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
22.04.1981 |
|
|
|
|
Com. Reg. No.: |
198101779-G |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading and repair of process control
equipment and related products. |
|
|
|
|
No. of Employee : |
87 [2015] |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 |
|
REGISTRATION
NO. |
: |
198101779-G |
|
COMPANY NAME |
: |
SPECTRIS PTE. LTD. |
|
FORMER NAME |
: |
BTG SEA PTE LTD
(06/01/1996) |
|
INCORPORATION
DATE |
: |
22/04/1981 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
31, KAKI BUKIT
ROAD 3, 04-05, TECHLINK, 417818, SINGAPORE. |
|
BUSINESS
ADDRESS |
: |
31, KAKI BUKIT
ROAD 3, 04-05/07, TECHLINK LOBBY B, 417818, SINGAPORE. |
|
TEL.NO. |
: |
65-67412868 |
|
FAX.NO. |
: |
65-64960354 |
|
CONTACT PERSON |
: |
KENNETH DOUGAL
TURNER SMITH ( DIRECTOR ) |
|
PRINCIPAL
ACTIVITY |
: |
TRADING AND
REPAIR OF PROCESS CONTROL EQUIPMENT AND RELATED PRODUCTS |
|
ISSUED AND PAID
UP CAPITAL |
: |
564,321.00 ORDINARY
SHARE, OF A VALUE OF SGD 21,892,382.00 |
|
SALES |
: |
EUR 52,496,000
[2014] |
|
NET WORTH |
: |
EUR 36,642,000
[2014] |
|
STAFF STRENGTH |
: |
87 [2015] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL
CONDITION |
: |
STRONG |
|
PAYMENT |
: |
AVERAGE |
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY
EXPOSURE |
: |
MODERATE |
|
GENERAL
REPUTATION |
: |
GOOD |
|
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 and repair of process control
equipment and related products.
The immediate
holding company of the Subject is SPECTRIS GROUP HOLDINGS LIMITED, a company
incorporated in UNITED KINGDOM.
The ultimate
holding company of the Subject is SPECTRIS PLC, a company incorporated in
UNITED KINGDOM.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
09/10/2015 |
SGD
21,892,382.00 |
The major
shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
SPECTRIS GROUP
HOLDINGS LIMITED |
HERITAGE HOUSE,
CHURCH ROAD, EGHAM, SURREY, TW20 9QD, UNITED KINGDOM. |
T08UF1887 |
564,321.00 |
100.00 |
|
--------------- |
------ |
|||
|
564,321.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's
interest in other companies (Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
Status |
(%) |
As At |
|
CHINA |
HOTTINGER BALDWIN
(SUZHOU) ELECTRONIC MEASUREMENT TECHNOLOGY CO., LTD |
- |
100.00 |
31/12/2013 |
|
|
CHINA |
SPECTRIS
INSTRUMENTATION & SYSTEM SHANGHAI LTD |
- |
100.00 |
31/12/2013 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. KENNETH
DOUGAL TURNER SMITH |
|
Address |
: |
ROUTE D'ORON 4,
1083, MEZIERES, VAUD, SWITZERLAND. |
|
IC / PP No |
: |
761232426 |
|
Nationality |
: |
BRITISH |
|
Date of
Appointment |
: |
15/08/2011 |
DIRECTOR 2
|
Name Of Subject |
: |
TAN TENG GUAN |
|
Address |
: |
9, GREENLEAF
VIEW, BAN GUAN PARK, 279249, SINGAPORE. |
|
IC / PP No |
: |
S1374503Z |
|
Nationality |
: |
SINGAPOREAN |
|
Date of
Appointment |
: |
11/12/1995 |
|
1) |
Name of Subject |
: |
KENNETH DOUGAL
TURNER SMITH |
|
Position |
: |
DIRECTOR |
|
|
Auditor |
: |
KPMG LLP |
|
Auditor'
Address |
: |
N/A |
|
1) |
Company
Secretary |
: |
JULIANA LOH JOO
HUI |
|
IC / PP No |
: |
S2558149J |
|
|
Address |
: |
5000J, MARINE
PARADE ROAD, 18-43, LAGOON VIEW, 449291, SINGAPORE. |
|
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 |
: |
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 |
[ |
] |
Average 61-90
Days |
[ |
X |
] |
|||||
|
Fair 91-120
Days |
[ |
] |
Poor >120
Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic
Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
PROCESS CONTROL
EQUIPMENT |
|
|
Total Number of
Employees: |
|
||||||||
|
YEAR |
2015 |
2014 |
2013 |
||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
87 |
66 |
66 |
||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading and repair of
process control equipment and related products.
The Subject refused to disclose its operation.
CURRENT INVESTIGATION
|
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-67412868 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
31 KAKI BUKIT
ROAD 3, #06-04/05, TECHLINK SINGAPORE 417818 |
|
Current Address |
: |
31, KAKI BUKIT
ROAD 3, 04-05/07, TECHLINK LOBBY B, 417818, SINGAPORE. |
|
Match |
: |
NO |
Other Investigations
On 3rd November 2015 we contacted one of the staff from the Subject and she
provided some information.
The address provided is incomplete.
The Subject refused to disclose its bankers.
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2010 - 2014 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
2010 - 2014 |
] |
|
|
Return on
Shareholder Funds |
: |
Favourable |
[ |
51.51% |
] |
|
|
Return on Net
Assets |
: |
Favourable |
[ |
54.92% |
] |
|
|
The fluctuating
turnover reflects the fierce competition among the existing and new market players.The
higher profit could be attributed to the increase in turnover. 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 |
[ |
34 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
40 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
59 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 |
[ |
2.20 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.54 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
turnover was erratic, the Subject had maintained a steady growth in its
profit. This indicate the management's efficiency in controlling its costs and
profitability. 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 : STRONG |
||||||
|
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 |
|
|
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
SPECTRIS PTE. LTD. |
|
Financial Year
End |
2014-12-31 |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
|
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 |
FULL |
SUMMARY |
|
Currency |
EUR |
EUR |
EUR |
EUR |
SGD |
|
TURNOVER |
52,496,000 |
56,341,000 |
55,172,000 |
51,224,000 |
66,953,293 |
|
Other Income |
18,999,000 |
12,621,000 |
14,445,000 |
2,597,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
71,495,000 |
68,962,000 |
69,617,000 |
53,821,000 |
66,953,293 |
|
Costs of Goods
Sold |
(40,363,000) |
(44,449,000) |
(44,190,000) |
(41,881,000) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
31,132,000 |
24,513,000 |
25,427,000 |
11,940,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
20,122,000 |
14,758,000 |
16,986,000 |
4,614,000 |
14,424,718 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
20,122,000 |
14,758,000 |
16,986,000 |
4,614,000 |
14,424,718 |
|
Taxation |
(1,247,000) |
(1,368,000) |
(1,311,000) |
(937,000) |
(633,744) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
18,875,000 |
13,390,000 |
15,675,000 |
3,677,000 |
13,790,974 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously
reported |
19,198,000 |
23,712,000 |
8,037,000 |
4,360,000 |
1,232,232 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
19,198,000 |
23,712,000 |
8,037,000 |
4,360,000 |
1,232,232 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
38,073,000 |
37,102,000 |
23,712,000 |
8,037,000 |
15,023,206 |
|
DIVIDENDS -
Ordinary (paid & proposed) |
(17,351,000) |
(17,904,000) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
20,722,000 |
19,198,000 |
23,712,000 |
8,037,000 |
15,023,206 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
DEPRECIATION
(as per notes to P&L) |
202,000 |
34,000 |
81,000 |
110,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
202,000 |
34,000 |
81,000 |
110,000 |
- |
|
|
============= |
============= |
============= |
============= |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
426,000 |
394,000 |
270,000 |
261,000 |
2,865,931 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Subsidiary
companies |
12,489,000 |
12,489,000 |
12,489,000 |
12,489,000 |
- |
|
Deferred assets |
109,000 |
123,000 |
83,000 |
78,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM
INVESTMENTS/OTHER ASSETS |
12,598,000 |
12,612,000 |
12,572,000 |
12,567,000 |
- |
|
Own goodwill |
1,423,000 |
1,423,000 |
1,423,000 |
1,423,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
INTANGIBLE ASSETS |
1,423,000 |
1,423,000 |
1,423,000 |
1,423,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM
ASSETS |
14,447,000 |
14,429,000 |
14,265,000 |
14,251,000 |
2,865,931 |
|
Stocks |
4,839,000 |
4,694,000 |
4,743,000 |
2,064,000 |
- |
|
Trade debtors |
5,774,000 |
6,618,000 |
5,628,000 |
5,376,000 |
- |
|
Other debtors,
deposits & prepayments |
1,140,000 |
637,000 |
193,000 |
246,000 |
- |
|
Amount due from
holding company |
23,261,000 |
22,906,000 |
29,630,000 |
17,463,000 |
- |
|
Amount due from
related companies |
643,000 |
756,000 |
736,000 |
1,157,000 |
- |
|
Cash & bank
balances |
994,000 |
939,000 |
803,000 |
736,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT
ASSETS |
36,651,000 |
36,550,000 |
41,733,000 |
27,042,000 |
41,776,052 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
51,098,000 |
50,979,000 |
55,998,000 |
41,293,000 |
44,641,983 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
6,535,000 |
5,820,000 |
6,244,000 |
5,509,000 |
- |
|
Other creditors
& accruals |
1,801,000 |
1,130,000 |
1,933,000 |
1,503,000 |
- |
|
Amounts owing to
related companies |
5,562,000 |
9,376,000 |
8,728,000 |
9,302,000 |
- |
|
Provision for
taxation |
558,000 |
897,000 |
824,000 |
883,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT
LIABILITIES |
14,456,000 |
17,223,000 |
17,729,000 |
17,197,000 |
30,368,660 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT
ASSETS/(LIABILITIES) |
22,195,000 |
19,327,000 |
24,004,000 |
9,845,000 |
11,407,392 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET
ASSETS |
36,642,000 |
33,756,000 |
38,269,000 |
24,096,000 |
14,273,323 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share
capital |
12,591,000 |
12,591,000 |
12,591,000 |
12,591,000 |
21,892,382 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE
CAPITAL |
12,591,000 |
12,591,000 |
12,591,000 |
12,591,000 |
21,892,382 |
|
Exchange
equalisation/fluctuation reserve |
(345,000) |
(1,607,000) |
(1,668,000) |
(200,000) |
- |
|
Retained profit/(loss)
carried forward |
20,722,000 |
19,198,000 |
23,712,000 |
8,037,000 |
15,023,206 |
|
Employee share
option reserve |
369,000 |
269,000 |
329,000 |
363,000 |
- |
|
Others |
3,305,000 |
3,305,000 |
3,305,000 |
3,305,000 |
(22,665,150) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
24,051,000 |
21,165,000 |
25,678,000 |
11,505,000 |
(7,641,944) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
36,642,000 |
33,756,000 |
38,269,000 |
24,096,000 |
14,250,438 |
|
TOTAL LONG TERM
LIABILITIES |
- |
- |
- |
- |
22,885 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
36,642,000 |
33,756,000 |
38,269,000 |
24,096,000 |
14,273,323 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
TYPES OF FUNDS |
|||||
|
Cash |
994,000 |
939,000 |
803,000 |
736,000 |
- |
|
Net Liquid
Funds |
994,000 |
939,000 |
803,000 |
736,000 |
- |
|
Net Liquid
Assets |
17,356,000 |
14,633,000 |
19,261,000 |
7,781,000 |
11,407,392 |
|
Net Current
Assets/(Liabilities) |
22,195,000 |
19,327,000 |
24,004,000 |
9,845,000 |
11,407,392 |
|
Net Tangible
Assets |
35,219,000 |
32,333,000 |
36,846,000 |
22,673,000 |
14,273,323 |
|
Net Monetary
Assets |
17,356,000 |
14,633,000 |
19,261,000 |
7,781,000 |
11,384,507 |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before
Interest & Tax (EBIT) |
20,122,000 |
14,758,000 |
16,986,000 |
4,614,000 |
- |
|
Earnings Before
Interest, Taxes, Depreciation And Amortization (EBITDA) |
20,324,000 |
14,792,000 |
17,067,000 |
4,724,000 |
- |
|
BALANCE SHEET ITEMS |
|||||
|
Total
Borrowings |
0 |
0 |
0 |
0 |
- |
|
Total
Liabilities |
14,456,000 |
17,223,000 |
17,729,000 |
17,197,000 |
30,391,545 |
|
Total Assets |
51,098,000 |
50,979,000 |
55,998,000 |
41,293,000 |
44,641,983 |
|
Net Assets |
36,642,000 |
33,756,000 |
38,269,000 |
24,096,000 |
14,273,323 |
|
Net Assets
Backing |
36,642,000 |
33,756,000 |
38,269,000 |
24,096,000 |
14,250,438 |
|
Shareholders'
Funds |
36,642,000 |
33,756,000 |
38,269,000 |
24,096,000 |
14,250,438 |
|
Total Share Capital |
12,591,000 |
12,591,000 |
12,591,000 |
12,591,000 |
21,892,382 |
|
Total Reserves |
24,051,000 |
21,165,000 |
25,678,000 |
11,505,000 |
(7,641,944) |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.07 |
0.05 |
0.05 |
0.04 |
- |
|
Liquid Ratio |
2.20 |
1.85 |
2.09 |
1.45 |
- |
|
Current Ratio |
2.54 |
2.12 |
2.35 |
1.57 |
1.38 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
34 |
30 |
31 |
15 |
- |
|
Debtors Ratio |
40 |
43 |
37 |
38 |
- |
|
Creditors Ratio |
59 |
48 |
52 |
48 |
- |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0 |
0 |
0 |
0 |
- |
|
Liabilities
Ratio |
0.39 |
0.51 |
0.46 |
0.71 |
2.13 |
|
Times Interest
Earned Ratio |
0 |
0 |
0 |
0 |
- |
|
Assets Backing
Ratio |
2.80 |
2.57 |
2.93 |
1.80 |
0.65 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating
Profit Margin |
38.33 |
26.19 |
30.79 |
9.01 |
21.54 |
|
Net Profit
Margin |
35.96 |
23.77 |
28.41 |
7.18 |
20.60 |
|
Return On Net
Assets |
54.92 |
43.72 |
44.39 |
19.15 |
101.06 |
|
Return On
Capital Employed |
52.86 |
41.95 |
42.79 |
18.08 |
101.06 |
|
Return On
Shareholders' Funds/Equity |
51.51 |
39.67 |
40.96 |
15.26 |
96.78 |
|
Dividend Pay
Out Ratio (Times) |
0.92 |
1.34 |
0 |
0 |
- |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent
Liabilities |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.67 |
|
|
1 |
Rs.101.02 |
|
Euro |
1 |
Rs.71.35 |
INFORMATION DETAILS
|
Analysis Done by
: |
AMT |
|
|
|
|
Report Prepared
by : |
ANK |
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.