|
Report No. : |
350362 |
|
Report Date : |
19.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
KAPPA INTERNATIONAL PTE LTD |
|
|
|
|
Registered Office : |
10, Anson Road, 23-16, International Plaza, 079903 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
28.02.2014 |
|
|
|
|
Date of Incorporation : |
04.11.1992 |
|
|
|
|
Com. Reg. No.: |
199205962-C |
|
|
|
|
Legal Form : |
Exempt Private |
|
|
|
|
Line of Business : |
Subject is engaged in the wholesale of chemicals and chemical
products. |
|
|
|
|
No. of Employees : |
10 [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. |
: |
199205962-C |
||||
|
COMPANY NAME |
: |
KAPPA INTERNATIONAL PTE LTD |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
04/11/1992 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
EXEMPT PRIVATE |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
10, ANSON ROAD, 23-16, INTERNATIONAL PLAZA, 079903, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
10, ANSON ROAD, 23-16, INTERNATIONAL PLAZA, 079903, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-62256186 |
||||
|
FAX.NO. |
: |
65-62256187 |
||||
|
CONTACT PERSON |
: |
KHETAN ASHOK RADHAVALLABH ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
WHOLESALE OF CHEMICALS AND CHEMICAL PRODUCTS |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
1,059,000.00 ORDINARY SHARE, OF A VALUE OF SGD 1,059,000.00 |
||||
|
SALES |
: |
USD 50,043,658 [2014] |
||||
|
NET WORTH |
: |
USD 3,199,974 [2014] |
||||
|
STAFF STRENGTH |
: |
10 [2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STABLE |
||||
|
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) wholesale of
chemicals and chemical products.
The immediate holding company of the Subject is A-VISIONS DEVELOPMENT INC.,
a company incorporated in VIRGIN ISLANDS, BRITISH.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
18/11/2015 |
SGD 1,059,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. KHETAN ASHOK RADHAVALLABH + |
83, MEYER ROAD, 10-01, MEYER PARK, 437910, SINGAPORE. |
S2202069B |
529,500.00 |
50.00 |
|
KHETAN PURNA ASHOK |
83, MEYER ROAD, 10-01, MEYER PARK |
S2202070F |
529,500.00 |
50.00 |
|
--------------- |
------ |
|||
|
1,059,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. KHETAN ASHOK RADHAVALLABH |
|
Address |
: |
83, MEYER ROAD, 10-01, MEYER PARK, 437910, SINGAPORE. |
|
IC / PP No |
: |
S2202069B |
|
Date of Appointment |
: |
10/10/2012 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
KHETAN ASHOK RADHAVALLABH |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
TAN,CHAN & PARTNERS |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
HARIKRISHNAN S/O MUTHUSAMY |
|
IC / PP No |
: |
S2135685I |
|
|
Address |
: |
101, AH HOOD ROAD, 11-02, 320101, SINGAPORE. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
UCO BANK |
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 |
|
Import Countries |
: |
ASIA |
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 |
: |
CHEMICAL PRODUCTS |
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2015 |
2014 |
2013 |
2011 |
|||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
|||||
|
COMPANY |
10 |
10 |
10 |
10 |
|||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) wholesale of chemicals
and chemical products.
The Subject sells all kinds of chemicals, raw materials and others.
The Subject sells the products according to its customers' orders.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
65 6225 6186 |
|
Current Telephone Number |
: |
65-62256186 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
10 APSON ROAD, 23-16 INTERNATIONAL PLAZA, SINGAPORE 079903 |
|
Current Address |
: |
10, ANSON ROAD, 23-16, INTERNATIONAL PLAZA, 079903, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and she provided some
information.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2010 - 2014 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2010 - 2014 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
12.00% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
15.98% |
] |
|
|
The fluctuating turnover reflects the fierce competition among the existing
and new market players.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 |
: |
Favourable |
[ |
30 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
15 Days |
] |
|
|
As the Subject is a service oriented company, the Subject does not need
to keep 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 |
[ |
2.58 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.58 Times |
] |
|
|
A minimum liquid ratio of 1 should be maintained by the Subject in
order to assure its creditors of its ability to meet short term obligations
and the Subject was in a good liquidity position. Thus, we believe the
Subject is able to meet all its short term obligations as and when they fall
due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Acceptable |
[ |
4.74 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The Subject's interest cover was slightly low. If there is no sharp
fall in its profit or sudden increase in the interest rates, we believe the
Subject is able to generate sufficient income to service its interest and
repay the loans. The Subject 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 had an acceptable interest cover. If there is no
sudden sharp increase in interest rate or fall in the Subject's profit, we do
believe the Subject is able to generate sufficient cash flow to service its
interest payment. The Subject 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. |
|
KAPPA INTERNATIONAL PTE LTD |
|
Financial Year End |
2014-02-28 |
2013-02-28 |
2012-02-29 |
2011-02-28 |
2010-02-28 |
|
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 |
FULL |
|
Currency |
USD |
USD |
USD |
USD |
USD |
|
TURNOVER |
50,043,658 |
42,580,122 |
42,731,136 |
29,223,191 |
21,009,866 |
|
Other Income |
1,285 |
4,696 |
22,202 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
50,044,943 |
42,584,818 |
42,753,338 |
29,223,191 |
21,009,866 |
|
Costs of Goods Sold |
(49,359,235) |
(41,904,277) |
(41,890,138) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
685,708 |
680,541 |
863,200 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
403,448 |
341,292 |
403,458 |
268,832 |
200,496 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
403,448 |
341,292 |
403,458 |
268,832 |
200,496 |
|
Taxation |
(19,296) |
(27,665) |
(47,978) |
(25,349) |
(15,567) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
384,152 |
313,627 |
355,480 |
243,483 |
184,929 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
2,059,393 |
1,745,766 |
1,390,286 |
1,146,803 |
961,874 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
2,059,393 |
1,745,766 |
1,390,286 |
1,146,803 |
961,874 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
2,443,545 |
2,059,393 |
1,745,766 |
1,390,286 |
1,146,803 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
2,443,545 |
2,059,393 |
1,745,766 |
1,390,286 |
1,146,803 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Trust receipts |
107,806 |
118,197 |
179,164 |
138,801 |
207,125 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
107,806 |
118,197 |
179,164 |
138,801 |
207,125 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
1,830 |
987 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,830 |
987 |
- |
- |
- |
|
|
============= |
============= |
||||
|
|
|
|
|
|
|
BALANCE
SHEET
|
|
KAPPA INTERNATIONAL PTE LTD |
|
Stocks |
- |
99,010 |
16,150 |
305,977 |
287,550 |
|
Trade debtors |
4,130,138 |
4,086,700 |
8,017,112 |
3,320,165 |
4,185,769 |
|
Other debtors, deposits & prepayments |
- |
5,587 |
4,439 |
3,463 |
2,976 |
|
Cash & bank balances |
1,091,031 |
1,224,819 |
206,516 |
718,402 |
90,131 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
5,221,169 |
5,416,116 |
8,244,217 |
4,348,007 |
4,566,426 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
5,221,169 |
5,416,116 |
8,244,217 |
4,348,007 |
4,566,426 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
1,981,944 |
875,603 |
2,106,631 |
1,311,867 |
1,076,445 |
|
Other creditors & accruals |
- |
17,839 |
6,777 |
6,325 |
6,337 |
|
Short term borrowings/Term loans |
- |
1,669,575 |
3,579,734 |
- |
- |
|
Other borrowings |
- |
- |
- |
858,327 |
1,563,654 |
|
Provision for taxation |
39,251 |
37,277 |
48,880 |
24,773 |
16,758 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
2,021,195 |
2,600,294 |
5,742,022 |
2,201,292 |
2,663,194 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
3,199,974 |
2,815,822 |
2,502,195 |
2,146,715 |
1,903,232 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
3,199,974 |
2,815,822 |
2,502,195 |
2,146,715 |
1,903,232 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
756,429 |
756,429 |
756,429 |
756,429 |
756,429 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
756,429 |
756,429 |
756,429 |
756,429 |
756,429 |
|
Retained profit/(loss) carried forward |
2,443,545 |
2,059,393 |
1,745,766 |
1,390,286 |
1,146,803 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
2,443,545 |
2,059,393 |
1,745,766 |
1,390,286 |
1,146,803 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
3,199,974 |
2,815,822 |
2,502,195 |
2,146,715 |
1,903,232 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
3,199,974 |
2,815,822 |
2,502,195 |
2,146,715 |
1,903,232 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL
RATIO
|
|
KAPPA INTERNATIONAL PTE LTD |
|
TYPES OF FUNDS |
|||||
|
Cash |
1,091,031 |
1,224,819 |
206,516 |
718,402 |
90,131 |
|
Net Liquid Funds |
1,091,031 |
1,224,819 |
206,516 |
718,402 |
90,131 |
|
Net Liquid Assets |
3,199,974 |
2,716,812 |
2,486,045 |
1,840,738 |
1,615,682 |
|
Net Current Assets/(Liabilities) |
3,199,974 |
2,815,822 |
2,502,195 |
2,146,715 |
1,903,232 |
|
Net Tangible Assets |
3,199,974 |
2,815,822 |
2,502,195 |
2,146,715 |
1,903,232 |
|
Net Monetary Assets |
3,199,974 |
2,716,812 |
2,486,045 |
1,840,738 |
1,615,682 |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
511,254 |
459,489 |
582,622 |
407,633 |
407,621 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
513,084 |
460,476 |
582,622 |
407,633 |
407,621 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
0 |
1,669,575 |
3,579,734 |
858,327 |
1,563,654 |
|
Total Liabilities |
2,021,195 |
2,600,294 |
5,742,022 |
2,201,292 |
2,663,194 |
|
Total Assets |
5,221,169 |
5,416,116 |
8,244,217 |
4,348,007 |
4,566,426 |
|
Net Assets |
3,199,974 |
2,815,822 |
2,502,195 |
2,146,715 |
1,903,232 |
|
Net Assets Backing |
3,199,974 |
2,815,822 |
2,502,195 |
2,146,715 |
1,903,232 |
|
Shareholders' Funds |
3,199,974 |
2,815,822 |
2,502,195 |
2,146,715 |
1,903,232 |
|
Total Share Capital |
756,429 |
756,429 |
756,429 |
756,429 |
756,429 |
|
Total Reserves |
2,443,545 |
2,059,393 |
1,745,766 |
1,390,286 |
1,146,803 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.54 |
0.47 |
0.04 |
0.33 |
0.03 |
|
Liquid Ratio |
2.58 |
2.04 |
1.43 |
1.84 |
1.61 |
|
Current Ratio |
2.58 |
2.08 |
1.44 |
1.98 |
1.71 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
0 |
1 |
0 |
4 |
5 |
|
Debtors Ratio |
30 |
35 |
68 |
41 |
73 |
|
Creditors Ratio |
15 |
8 |
18 |
16 |
19 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0 |
0.59 |
1.43 |
0.40 |
0.82 |
|
Liabilities Ratio |
0.63 |
0.92 |
2.29 |
1.03 |
1.40 |
|
Times Interest Earned Ratio |
4.74 |
3.89 |
3.25 |
2.94 |
1.97 |
|
Assets Backing Ratio |
4.23 |
3.72 |
3.31 |
2.84 |
2.52 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
0.81 |
0.80 |
0.94 |
0.92 |
0.95 |
|
Net Profit Margin |
0.77 |
0.74 |
0.83 |
0.83 |
0.88 |
|
Return On Net Assets |
15.98 |
16.32 |
23.28 |
18.99 |
21.42 |
|
Return On Capital Employed |
15.98 |
16.32 |
23.28 |
18.99 |
21.42 |
|
Return On Shareholders' Funds/Equity |
12.00 |
11.14 |
14.21 |
11.34 |
9.72 |
|
Dividend Pay Out Ratio (Times) |
0 |
0 |
0 |
0 |
0 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.11 |
|
|
1 |
Rs.100.51 |
|
Euro |
1 |
Rs.70.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
Report Prepared
by : |
TPT |
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.