|
Report No. : |
349371 |
|
Report Date : |
16.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
HASHIMA (S) PTE LTD |
|
|
|
|
Registered Office : |
12, Tannery Road, 04-05, HB Centre, 347722 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
20.07.1991 |
|
|
|
|
Com. Reg. No.: |
199103580-K |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading of machine, fusing press, sewing industrial machines |
|
|
|
|
No. of Employee : |
6 [2015] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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. |
: |
199103580-K |
||||
|
COMPANY
NAME |
: |
HASHIMA (S) PTE LTD |
||||
|
FORMER
NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
20/07/1991 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
PRIVATE
LIMITED |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
12,
TANNERY ROAD, 04-05, HB CENTRE, 347722, SINGAPORE. |
||||
|
BUSINESS
ADDRESS |
: |
12
TANNERY ROAD #04-05 HB CENTRE, 347722, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-62858131 |
||||
|
FAX.NO. |
: |
65-62858132 |
||||
|
CONTACT
PERSON |
: |
OSUMI
MASAYA ( DIRECTOR ) |
||||
|
PRINCIPAL
ACTIVITY |
: |
TRADING
OF MACHINE, FUSING PRESS, SEWING INDUSTRIAL MACHINES |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
100,000.00
ORDINARY SHARE, OF A VALUE OF SGD 100,000.00 |
||||
|
SALES |
: |
USD
15,641,266 [2014] |
||||
|
NET
WORTH |
: |
USD
2,933,992 [2014] |
||||
|
STAFF
STRENGTH |
: |
6
[2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
STABLE |
||||
|
PAYMENT |
: |
NO
COMPLAINTS |
||||
|
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 machine, fusing press, sewing industrial machines.
The immediate holding company of the Subject
is HASHIMA CO., LTD., a company incorporated in JAPAN.
Share
Capital History
|
Date |
Issue
& Paid Up Capital |
|
11/11/2015 |
SGD
100,000.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
HASHIMA
CO., LTD. |
18,
3, CHOME, HIGASHI KINPOCHO, GIFUCITY, JAPAN. |
T13UF3337J |
100,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
100,000.00 |
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 |
HASHIMA
(KUNSHAN) INDUSTRIAL EQUIPMENT CO., LTD |
- |
33.00 |
31/12/2014 |
DIRECTOR
1
|
Name
Of Subject |
: |
OTSUKA
MASAYUKI |
|
Address |
: |
25-78,
GOTSUBO-CHO COOPE, TAGAMI, C-107, GIFU-CITY, JAPAN. |
|
IC
/ PP No |
: |
TE2999205 |
|
Nationality |
: |
JAPANESE |
|
Date
of Appointment |
: |
01/04/1997 |
DIRECTOR
2
|
Name
Of Subject |
: |
OSUMI
MASAYA |
|
Address |
: |
30,
BAYSHORE ROAD, 14-02, THE BAYSHORE, 469974, SINGAPORE. |
|
IC
/ PP No |
: |
G3209751R |
|
Nationality |
: |
JAPANESE |
|
Date
of Appointment |
: |
14/09/2015 |
MANAGEMENT
|
||
|
1) |
Name
of Subject |
: |
OSUMI
MASAYA |
|
Position |
: |
DIRECTOR |
|
|
|
AUDITOR
|
|
Auditor |
: |
FOONG
PAK LEONG & COMPANY |
|
Auditor'
Address |
: |
N/A |
|
|
COMPANY
SECRETARIES
|
|
1) |
Company
Secretary |
: |
FOONG
PAK THIN |
|
IC
/ PP No |
: |
S0002267E |
|
|
Address |
: |
230,
PASIR RIS STREET 21, 11-44, 510230, SINGAPORE. |
|
|
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
UNITED
OVERSEAS BANK LIMITED |
ENCUMBRANCE
(S)
|
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
C201315684 |
22/11/2013 |
N/A |
UNITED
OVERSEAS BANK LIMITED |
- |
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 |
: |
ASIA |
|||
|
Credit
Term |
: |
AS
AGREED |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods
Traded |
: |
MACHINE,
FUSING PRESS, SEWING INDUSTRIAL MACHINES |
|
|
Total
Number of Employees: |
|||||||||
|
YEAR |
2015 |
2013 |
|||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
6 |
6 |
|||||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) trading of machine,
fusing press, sewing industrial machines.
The Subject supplies an array of innovation machineries like Needle Detectors,
Fusing Presses, Heat Transfer Presses, Automatic Placket Machines, Quilting
machine etc.
CURRENT
INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-62858131 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
12
TANNERY ROAD 04-05 HB CENTRE,347722,SINGAPORE |
|
Current
Address |
: |
12
TANNERY ROAD #04-05 HB CENTRE, 347722, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject and she provided some
information.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2012
- 2014 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
2012
- 2014 |
] |
|
|
Return
on Shareholder Funds |
: |
Acceptable |
[ |
25.98% |
] |
|
|
Return
on Net Assets |
: |
Acceptable |
[ |
29.56% |
] |
|
|
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 |
: |
Favourable |
[ |
24
Days |
] |
|
|
Debtor
Ratio |
: |
Unfavourable |
[ |
68
Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
10
Days |
] |
|
|
The Subject's stocks were moving fast thus reducing
its holding cost. This had reduced funds being tied up in stocks. The high
debtors' ratio could indicate that the Subject was weak in its credit
control. However, the Subject could also giving longer credit periods to its
customers in order to boost its sales or to capture / retain its market
share. 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 |
: |
Acceptable |
[ |
0.92
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
1.12
Times |
] |
|
|
The
Subject's liquid ratio was slightly low. This could indicate that the Subject's
working capital was slightly deficient. The Subject will have to improve its
liquidity position either by obtaining short term financing or increase its
paid up capital so that it can meet all its short term obligations as and
when they fall due. |
||||||
|
Solvency |
||||||
|
Interest
Cover |
: |
Favourable |
[ |
20.82
Times |
] |
|
|
Gearing
Ratio |
: |
Favourable |
[ |
0.00
Times |
] |
|
|
The interest cover showed that the Subject was
able to service the interest. The favourable interest cover could indicate
that the Subject was making enough profit to pay for the interest accrued.
The Subject had no gearing and hence it had virtually no financial risk. The
Subject was financed by its shareholders' funds and internally generated
fund. During the economic downturn, the Subject, having a zero gearing, will
be able to compete better than those which are highly geared in the same
industry. |
||||||
|
Overall
Assessment : |
||||||
|
Generally, the Subject's performance has
improved with higher turnover and profit. The Subject's liquidity was at an
acceptable range. If the Subject is able to obtain further short term
financing, it should be able to meet all its short term obligations. With the
favourable interest cover, the Subject could be able to service all the
accrued interest without facing any difficulties. The Subject was a zero
gearing company, it was solely dependant on its shareholders to provide funds
to finance its business. The Subject has good chance of getting loans, if the
needs arises. |
||||||
|
Overall
financial condition of the Subject : STABLE |
||||||
SINGAPORE
ECONOMIC / INDUSTRY OUTLOOK
|
|
Major
Economic Indicators : |
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. |
|
HASHIMA
(S) PTE LTD |
|
Financial
Year End |
2014-12-31 |
2013-12-31 |
2012-12-31 |
|
Months |
12 |
12 |
12 |
|
Consolidated
Account |
GROUP |
GROUP |
GROUP |
|
Audited
Account |
YES |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
|
Financial
Type |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
|
TURNOVER |
15,641,266 |
13,219,952 |
10,057,468 |
|
Other
Income |
11,101 |
- |
7,963 |
|
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
15,652,367 |
13,219,952 |
10,065,431 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
597,791 |
458,136 |
263,045 |
|
SHARE
OF PROFITS/(LOSSES) OF ASSOCIATED COMPANIES |
227,959 |
294,725 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
825,750 |
752,861 |
263,045 |
|
Taxation |
(63,639) |
(28,000) |
5,628 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
762,111 |
724,861 |
268,673 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As
previously reported |
1,711,457 |
986,596 |
717,923 |
|
---------------- |
---------------- |
---------------- |
|
|
As
restated |
1,711,457 |
986,596 |
717,923 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
2,473,568 |
1,711,457 |
986,596 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
2,473,568 |
1,711,457 |
986,596 |
|
============= |
============= |
============= |
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INTEREST
EXPENSE (as per notes to P&L) |
|||
|
Term
loan / Borrowing |
41,655 |
42,000 |
33,044 |
|
---------------- |
---------------- |
---------------- |
|
|
41,655 |
42,000 |
33,044 |
|
|
============= |
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
4,953 |
7,045 |
6,913 |
|
---------------- |
---------------- |
---------------- |
|
|
4,953 |
7,045 |
6,913 |
|
|
============= |
============= |
============= |
BALANCE
SHEET
|
|
HASHIMA
(S) PTE LTD |
|
ASSETS
EMPLOYED: |
|||
|
FIXED
ASSETS |
6,243 |
11,196 |
12,768 |
|
Associated
companies |
2,310,694 |
2,158,068 |
1,637,759 |
|
---------------- |
---------------- |
---------------- |
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|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
2,310,694 |
2,158,068 |
1,637,759 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
2,316,937 |
2,169,264 |
1,650,527 |
|
Stocks |
1,027,521 |
482,561 |
511,398 |
|
Trade
debtors |
2,923,385 |
2,404,915 |
2,368,102 |
|
Other
debtors, deposits & prepayments |
43,416 |
28,739 |
37,074 |
|
Short
term deposits |
7,969 |
7,969 |
- |
|
Amount
due from holding company |
- |
666 |
- |
|
Amount
due from related companies |
2,460 |
2,154 |
- |
|
Cash
& bank balances |
1,700,585 |
1,705,056 |
583,533 |
|
Others |
- |
- |
4,937 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
5,705,336 |
4,632,060 |
3,505,044 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
8,022,273 |
6,801,324 |
5,155,571 |
|
============= |
============= |
============= |
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|
CURRENT
LIABILITIES |
|||
|
Trade
creditors |
431,736 |
305,469 |
180,411 |
|
Other
creditors & accruals |
114,069 |
186,133 |
53,102 |
|
Short
term borrowings/Term loans |
- |
2,100,000 |
2,100,000 |
|
Amounts
owing to holding company |
1,796,944 |
1,956,633 |
1,570,422 |
|
Amounts
owing to related companies |
2,000,000 |
- |
- |
|
Amounts
owing to associated companies |
692,532 |
- |
- |
|
Provision
for taxation |
53,000 |
28,000 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
5,088,281 |
4,576,235 |
3,903,935 |
|
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
617,055 |
55,825 |
(398,891) |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
2,933,992 |
2,225,089 |
1,251,636 |
|
============= |
============= |
============= |
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SHARE
CAPITAL |
|||
|
Ordinary
share capital |
65,317 |
65,317 |
65,317 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
65,317 |
65,317 |
65,317 |
|
Exchange
equalisation/fluctuation reserve |
395,107 |
448,315 |
199,723 |
|
Retained
profit/(loss) carried forward |
2,473,568 |
1,711,457 |
986,596 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
2,868,675 |
2,159,772 |
1,186,319 |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
2,933,992 |
2,225,089 |
1,251,636 |
|
---------------- |
---------------- |
---------------- |
|
|
2,933,992 |
2,225,089 |
1,251,636 |
|
|
============= |
============= |
============= |
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HASHIMA
(S) PTE LTD |
|
TYPES
OF FUNDS |
|||
|
Cash |
1,708,554 |
1,713,025 |
583,533 |
|
Net
Liquid Funds |
1,708,554 |
1,713,025 |
583,533 |
|
Net
Liquid Assets |
(410,466) |
(426,736) |
(910,289) |
|
Net
Current Assets/(Liabilities) |
617,055 |
55,825 |
(398,891) |
|
Net
Tangible Assets |
2,933,992 |
2,225,089 |
1,251,636 |
|
Net
Monetary Assets |
(410,466) |
(426,736) |
(910,289) |
|
PROFIT
& LOSS ITEMS |
|||
|
Earnings
Before Interest & Tax (EBIT) |
867,405 |
794,861 |
296,089 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
872,358 |
801,906 |
303,002 |
|
BALANCE
SHEET ITEMS |
|||
|
Total
Borrowings |
0 |
2,100,000 |
2,100,000 |
|
Total
Liabilities |
5,088,281 |
4,576,235 |
3,903,935 |
|
Total
Assets |
8,022,273 |
6,801,324 |
5,155,571 |
|
Net
Assets |
2,933,992 |
2,225,089 |
1,251,636 |
|
Net
Assets Backing |
2,933,992 |
2,225,089 |
1,251,636 |
|
Shareholders'
Funds |
2,933,992 |
2,225,089 |
1,251,636 |
|
Total
Share Capital |
65,317 |
65,317 |
65,317 |
|
Total
Reserves |
2,868,675 |
2,159,772 |
1,186,319 |
|
LIQUIDITY
(Times) |
|||
|
Cash
Ratio |
0.34 |
0.37 |
0.15 |
|
Liquid
Ratio |
0.92 |
0.91 |
0.77 |
|
Current
Ratio |
1.12 |
1.01 |
0.90 |
|
WORKING
CAPITAL CONTROL (Days) |
|||
|
Stock
Ratio |
24 |
13 |
19 |
|
Debtors
Ratio |
68 |
66 |
86 |
|
Creditors
Ratio |
10 |
8 |
7 |
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SOLVENCY
RATIOS (Times) |
|||
|
Gearing
Ratio |
0 |
0.94 |
1.68 |
|
Liabilities
Ratio |
1.73 |
2.06 |
3.12 |
|
Times
Interest Earned Ratio |
20.82 |
18.93 |
8.96 |
|
Assets
Backing Ratio |
44.92 |
34.07 |
19.16 |
|
PERFORMANCE
RATIO (%) |
|||
|
Operating
Profit Margin |
5.28 |
5.69 |
2.62 |
|
Net
Profit Margin |
4.87 |
5.48 |
2.67 |
|
Return
On Net Assets |
29.56 |
35.72 |
23.66 |
|
Return
On Capital Employed |
29.56 |
35.72 |
23.66 |
|
Return
On Shareholders' Funds/Equity |
25.98 |
32.58 |
21.47 |
|
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.66.14 |
|
|
1 |
Rs.100.55 |
|
Euro |
1 |
Rs.71.27 |
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
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Report Prepared
by : |
ASH |
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.