|
Report No. : |
349651 |
|
Report Date : |
10.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
PREMARK
INTERNATIONAL PTE. LTD. |
|
|
|
|
Registered Office : |
100, Beach Road, 30-00, Shaw Towers, 189702 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
29.06.2010 |
|
|
|
|
Com. Reg. No.: |
201013663-G |
|
|
|
|
Legal Form : |
Exempt Private |
|
|
|
|
Line of Business : |
Trading of Timber Products and Logs. |
|
|
|
|
No. of Employees : |
5 [2015] |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Small Company |
|
|
|
|
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 – 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. |
: |
201013663-G |
||||
|
COMPANY
NAME |
: |
PREMARK
INTERNATIONAL PTE. LTD. |
||||
|
FORMER
NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
29/06/2010 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
EXEMPT
PRIVATE |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
100,
BEACH ROAD, 30-00, SHAW TOWERS, 189702, SINGAPORE. |
||||
|
BUSINESS
ADDRESS |
: |
3,
SHENTON WAY, 12-12, SHENTON HOUSE, 068805, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-62242524 |
||||
|
FAX.NO. |
: |
65-62247724 |
||||
|
CONTACT
PERSON |
: |
RAVI
KUMAR JAIN ( DIRECTOR ) |
||||
|
PRINCIPAL
ACTIVITY |
: |
TRADING
OF TIMBER PRODUCTS AND LOGS |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
2,100,000.00
ORDINARY SHARE, OF A VALUE OF SGD 2,100,000.00 |
||||
|
SALES |
: |
USD
46,232,429 [2014] |
||||
|
NET
WORTH |
: |
USD
2,695,246 [2014] |
||||
|
STAFF
STRENGTH |
: |
5
[2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
GOOD |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL
RISK |
: |
LOW |
||||
|
CURRENCY
EXPOSURE |
: |
MODERATE |
||||
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY
OUTLOOK |
: |
AVERAGE
GROWTH |
||||
HISTORY/
BACKGROUND
|
The Subject is an exempt private company
whose shares are not held by any corporate body and has no more than 20
shareholders who are all natural persons. An exempt company is a type of
private limited company. 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, suing or be sued by other companies. An
exempt private company with an annual turnover of less than SGD5 million are
exempted from statutory auditing requirements. Instead of filing audited annual
accounts, the Subject has to file in a document duly signed by its director in
charge of its finance and the company secretary stating that the Subject is
able to meet all its obligations as and when they fall due. The Subject is not
required to have their accounts audited. However, the Subject will prepare
unaudited accounts for purposes of AGMs and filing with Registry Office if it
is unable to meet all its obligations as and when they fall due .
The
Subject is principally engaged in the (as a / as an) trading of timber products
and logs.
Former
Address(es)
|
Address |
As
At Date |
|
100
BEACH ROAD #30-00 SHAW TOWERS, 189702 |
05/11/2015 |
Share
Capital History
|
Date |
Issue
& Paid Up Capital |
|
05/11/2015 |
SGD
2,100,000.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
CHETAN
KHANNA + |
1B,
JALAN APOLLO, DESHON ROAD, 96000 SIBU, SARAWAK, MALAYSIA. |
Z1800289 |
1,400,000.00 |
66.67 |
|
KANCHKA
SAYAL |
107,
GREENS VIEW 3, BUILDING T COM BARSHA, DUBAI UAE, P. O. BOX, 500832, UNITED
ARAB EMIRATES. |
Z2056886 |
700,000.00 |
33.33 |
|
--------------- |
------ |
|||
|
2,100,000.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
DIRECTORS
|
DIRECTOR
1
|
Name
Of Subject |
: |
AGRAWAL
SOHAM GHANSHYAM |
|
Address |
: |
1,
SIGLAP ROAD, 02-16, MANDARIN GARDENS, 448906, SINGAPORE. |
|
IC
/ PP No |
: |
S7084664J |
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
29/06/2010 |
DIRECTOR
2
|
Name
Of Subject |
: |
RAVI
KUMAR JAIN |
|
Address |
: |
PLOT-418,
WARD-12/C, LILASHAH NAGAR, GANDHIDHAM, KUTCH-370201, INDIA. |
|
IC
/ PP No |
: |
H9905131 |
|
Nationality |
: |
INDIAN |
|
Date
of Appointment |
: |
29/06/2010 |
DIRECTOR
3
|
Name
Of Subject |
: |
CHETAN
KHANNA |
|
Address |
: |
1B,
JALAN APOLLO, DESHON ROAD, 96000 SIBU, SARAWAK, MALAYSIA. |
|
IC
/ PP No |
: |
Z1800289 |
|
Nationality |
: |
INDIAN |
|
Date
of Appointment |
: |
29/06/2010 |
MANAGEMENT
|
|
1)
|
Name
of Subject |
: |
RAVI
KUMAR JAIN |
|
Position |
: |
DIRECTOR |
AUDITOR
|
|
Auditor |
: |
NEXIA
TS PUBLIC ACCOUNTING CORPORATION |
|
Auditor'
Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1)
|
Company
Secretary |
: |
LIM
HORNG LING |
|
IC
/ PP No |
: |
S6925973A |
|
|
Address |
: |
205,
BALESTIER ROAD, 02-06, THE MEZZO, 329682, SINGAPORE. |
|
BANKING
|
Banking relations are maintained principally with :
|
1)
|
Name |
: |
INDIAN
BANK |
|
2)
|
Name |
: |
CITIBANK
N.A. |
ENCUMBRANCE
(S)
|
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
C201110759 |
26/08/2011 |
N/A |
INDIAN
BANK |
- |
Unsatisfied |
|
C201211053 |
27/09/2012 |
N/A |
CITIBANK
N.A. |
- |
Unsatisfied |
|
C201403194 |
27/03/2014 |
N/A |
AUSTRALIA
AND NEW ZEALAND BANKING GROUP LIMITED |
- |
Unsatisfied |
|
C201403199 |
27/03/2014 |
N/A |
AUSTRALIA
AND NEW ZEALAND BANKING GROUP LIMITED |
- |
Unsatisfied |
|
C201412293 |
05/11/2014 |
N/A |
CITIBANK
N.A. |
- |
Unsatisfied |
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 |
[ |
X |
] |
Average
61-90 Days |
[ |
] |
|||||
|
Fair
91-120 Days |
[ |
] |
Poor
>120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic
Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export
Market |
: |
WORLDWIDE |
|||
|
Credit
Term |
: |
N/A |
|||
|
Payment
Mode |
: |
N/A |
|||
OPERATIONS
|
|
Goods
Traded |
: |
TIMBER
LOGS AND TIMBER PRODUCTS |
|
|
Total
Number of Employees: |
|||||||||
|
YEAR |
2015 |
2014 |
|||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
5 |
5 |
|||||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) trading of timber
products and logs.
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 |
: |
65-62242524 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
3
SHENTON WAY, #12-02 SHENTON HOUSE, SINGAPORE 068805 |
|
Current
Address |
: |
3,
SHENTON WAY, 12-12, SHENTON HOUSE, 068805, SINGAPORE. |
|
Match |
: |
NO |
Other
Investigations
We contacted one of the staff from the Subject and he only provided limited information
on the Subject.
The Subject had shifted from the address provided.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2011
- 2014 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
2011
- 2014 |
] |
|
|
Return
on Shareholder Funds |
: |
Acceptable |
[ |
10.38% |
] |
|
|
Return
on Net Assets |
: |
Acceptable |
[ |
11.28% |
] |
|
|
The
Subject's turnover increased steadily as the demand for its products / services
increased due to the goodwill built up over the years.The Subject's
management have been efficient in controlling its operating costs. The
Subject's management had generated acceptable return for its shareholders
using its assets. |
||||||
|
Working
Capital Control |
||||||
|
Stock
Ratio |
: |
Nil |
[ |
0
Days |
] |
|
|
Debtor
Ratio |
: |
Acceptable |
[ |
57
Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
27
Days |
] |
|
|
As
the Subject is a service oriented company, the Subject does not need to keep
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 |
[ |
1.37
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
1.37
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 |
: |
Favourable |
[ |
21.42
Times |
] |
|
|
Gearing
Ratio |
: |
Favourable |
[ |
0.19
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 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 : |
||||||
|
Generally,
the Subject's performance has improved with higher 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. With the
favourable interest cover, the Subject could be able to service all the
accrued interest without facing any difficulties. 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 : STRONG |
||||||
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
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
PREMARK
INTERNATIONAL PTE. LTD. |
|
Financial
Year End |
2014-03-31 |
2013-03-31 |
2012-03-31 |
2011-03-31 |
|
Months |
12 |
12 |
12 |
12 |
|
Consolidated
Account |
Company |
Company |
Company |
Company |
|
Audited
Account |
YES |
YES |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
|
Financial
Type |
FULL |
FULL |
FULL |
SUMMARY |
|
Currency |
USD |
USD |
USD |
SGD |
|
TURNOVER |
46,232,429 |
28,405,676 |
16,540,296 |
14,368,584 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
46,232,429 |
28,405,676 |
16,540,296 |
14,368,584 |
|
Costs
of Goods Sold |
(45,009,541) |
(27,395,986) |
(15,892,092) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
1,222,888 |
1,009,690 |
648,204 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
289,730 |
272,384 |
288,820 |
381,059 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
289,730 |
272,384 |
288,820 |
381,059 |
|
Taxation |
(9,964) |
(16,314) |
(43,541) |
(10,861) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
279,766 |
256,070 |
245,279 |
370,198 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
||||
|
As
previously reported |
793,880 |
537,810 |
292,531 |
(77,667) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
793,880 |
537,810 |
292,531 |
(77,667) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
1,073,646 |
793,880 |
537,810 |
292,531 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
1,073,646 |
793,880 |
537,810 |
292,531 |
|
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
||||
|
Others |
14,187 |
29,680 |
19,851 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
14,187 |
29,680 |
19,851 |
- |
|
|
============= |
============= |
============= |
- |
|
|
DEPRECIATION
(as per notes to P&L) |
576 |
805 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
576 |
805 |
- |
- |
|
|
============= |
============= |
|||
|
|
|
|
|
|
|
|
|
|
|
|
BALANCE
SHEET
|
|
PREMARK
INTERNATIONAL PTE. LTD. |
|
ASSETS
EMPLOYED: |
||||
|
FIXED
ASSETS |
1,233 |
1,344 |
687 |
1,581 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
1,233 |
1,344 |
687 |
1,581 |
|
Trade
debtors |
7,181,687 |
4,338,024 |
3,283,934 |
- |
|
Other
debtors, deposits & prepayments |
553,689 |
274,907 |
194,976 |
- |
|
Short
term deposits |
1,419,976 |
1,408,387 |
1,305,110 |
- |
|
Interest
receivable |
4,875 |
6,923 |
- |
- |
|
Cash
& bank balances |
767,480 |
712,200 |
202,976 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
9,927,707 |
6,740,441 |
4,986,996 |
3,723,293 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
9,928,940 |
6,741,785 |
4,987,683 |
3,724,874 |
|
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
||||
|
Trade
creditors |
3,284,016 |
1,070,555 |
1,047,744 |
- |
|
Other
creditors & accruals |
290,388 |
101,509 |
49,882 |
- |
|
Other
borrowings |
524,782 |
758,538 |
1,212,236 |
- |
|
Amounts
owing to director |
3,117,395 |
3,226,030 |
1,365,569 |
- |
|
Provision
for taxation |
17,113 |
38,973 |
22,142 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
7,233,694 |
5,195,605 |
3,697,573 |
2,402,640 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
2,694,013 |
1,544,836 |
1,289,423 |
1,320,653 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
2,695,246 |
1,546,180 |
1,290,110 |
1,322,234 |
|
============= |
============= |
============= |
============= |
|
|
SHARE
CAPITAL |
||||
|
Ordinary
share capital |
1,621,600 |
752,300 |
752,300 |
2,100,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
1,621,600 |
752,300 |
752,300 |
2,100,000 |
|
Retained
profit/(loss) carried forward |
1,073,646 |
793,880 |
537,810 |
292,531 |
|
Others |
- |
- |
- |
(777,766) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
1,073,646 |
793,880 |
537,810 |
(777,766) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
2,695,246 |
1,546,180 |
1,290,110 |
1,322,234 |
|
TOTAL
LONG TERM LIABILITIES |
- |
- |
- |
0 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
2,695,246 |
1,546,180 |
1,290,110 |
1,322,234 |
|
|
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL
RATIO
|
|
PREMARK
INTERNATIONAL PTE. LTD. |
|
TYPES
OF FUNDS |
||||
|
Cash |
2,187,456 |
2,120,587 |
1,508,086 |
- |
|
Net
Liquid Funds |
2,187,456 |
2,120,587 |
1,508,086 |
- |
|
Net
Liquid Assets |
2,694,013 |
1,544,836 |
1,289,423 |
1,320,653 |
|
Net
Current Assets/(Liabilities) |
2,694,013 |
1,544,836 |
1,289,423 |
1,320,653 |
|
Net
Tangible Assets |
2,695,246 |
1,546,180 |
1,290,110 |
1,322,234 |
|
Net
Monetary Assets |
2,694,013 |
1,544,836 |
1,289,423 |
1,320,653 |
|
PROFIT
& LOSS ITEMS |
||||
|
Earnings
Before Interest & Tax (EBIT) |
303,917 |
302,064 |
308,671 |
- |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
304,493 |
302,869 |
308,671 |
- |
|
BALANCE
SHEET ITEMS |
||||
|
Total
Borrowings |
524,782 |
758,538 |
1,212,236 |
- |
|
Total
Liabilities |
7,233,694 |
5,195,605 |
3,697,573 |
2,402,640 |
|
Total
Assets |
9,928,940 |
6,741,785 |
4,987,683 |
3,724,874 |
|
Net
Assets |
2,695,246 |
1,546,180 |
1,290,110 |
1,322,234 |
|
Net
Assets Backing |
2,695,246 |
1,546,180 |
1,290,110 |
1,322,234 |
|
Shareholders'
Funds |
2,695,246 |
1,546,180 |
1,290,110 |
1,322,234 |
|
Total
Share Capital |
1,621,600 |
752,300 |
752,300 |
2,100,000 |
|
Total
Reserves |
1,073,646 |
793,880 |
537,810 |
(777,766) |
|
LIQUIDITY
(Times) |
||||
|
Cash
Ratio |
0.30 |
0.41 |
0.41 |
- |
|
Liquid
Ratio |
1.37 |
1.30 |
1.35 |
- |
|
Current
Ratio |
1.37 |
1.30 |
1.35 |
1.55 |
|
WORKING
CAPITAL CONTROL (Days) |
||||
|
Stock
Ratio |
0 |
0 |
0 |
- |
|
Debtors
Ratio |
57 |
56 |
72 |
- |
|
Creditors
Ratio |
27 |
14 |
24 |
- |
|
SOLVENCY
RATIOS (Times) |
||||
|
Gearing
Ratio |
0.19 |
0.49 |
0.94 |
- |
|
Liabilities
Ratio |
2.68 |
3.36 |
2.87 |
1.82 |
|
Times
Interest Earned Ratio |
21.42 |
10.18 |
15.55 |
- |
|
Assets
Backing Ratio |
1.66 |
2.06 |
1.71 |
0.63 |
|
PERFORMANCE
RATIO (%) |
||||
|
Operating
Profit Margin |
0.63 |
0.96 |
1.75 |
2.65 |
|
Net
Profit Margin |
0.61 |
0.90 |
1.48 |
2.58 |
|
Return
On Net Assets |
11.28 |
19.54 |
23.93 |
28.82 |
|
Return
On Capital Employed |
11.28 |
19.54 |
23.93 |
28.82 |
|
Return
On Shareholders' Funds/Equity |
10.38 |
16.56 |
19.01 |
28.00 |
|
Dividend
Pay Out Ratio (Times) |
0 |
0 |
0 |
- |
|
NOTES
TO ACCOUNTS |
||||
|
Contingent
Liabilities |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.34 |
|
UK Pound |
1 |
Rs.100.03 |
|
Euro |
1 |
Rs.71.45 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.