|
Report No. : |
351516 |
|
Report Date : |
26.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
AWIN RESOURCE INTERNATIONAL PTE. LTD. |
|
|
|
|
Registered Office : |
20, Collyer Quay, 24-00, 049319, Singapore. |
|
|
|
|
Country : |
Singapore
|
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
25.02.2011 |
|
|
|
|
Com. Reg. No.: |
201104621-R |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is engaged in the investment holding companies & trading
of ferrous and non-ferrous metals. |
|
|
|
|
No. of Employees : |
60 [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 : |
Slow but correct |
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SINGAPORE - ECONOMIC OVERVIEW
Singapore has a highly developed and successful free-market
economy. It enjoys a remarkably open and corruption-free environment, stable
prices, and a per capita GDP higher than that of most developed countries.
Unemployment is very low. The economy depends heavily on exports, particularly
of consumer electronics, information technology products, medical and optical
devices, pharmaceuticals, and on its vibrant transportation, business, and
financial services sectors. The economy contracted 0.6% in 2009 as a result of
the global financial crisis, but has continued to grow since 2010 on the
strength of renewed exports. Growth in 2014 was slower at 2.9%, largely a
result of soft demand for exports amid a sluggish global economy and weak
growth in Singapore’s manufacturing sector. The government is attempting to
restructure Singapore’s economy by weaning its dependence on foreign labor,
addressing weak productivity, and increasing Singaporean wages. Singapore has
attracted major investments in pharmaceuticals and medical technology
production and will continue efforts to strengthen its position as Southeast
Asia's leading financial and high-tech hub. Singapore is a member of the
12-nation Trans-Pacific Partnership free trade negotiations, the Regional
Comprehensive Economic Partnership negotiations with the nine other ASEAN
members plus Australia, China, India, Japan, South Korea and New Zealand, and
in 2015, Singapore will form, with the other ASEAN members, the ASEAN Economic
Community.
|
Source
: CIA |
EXECUTIVE
SUMMARY
|
|
REGISTRATION NO. |
: |
201104621-R |
||||
|
COMPANY NAME |
: |
AWIN RESOURCE INTERNATIONAL PTE. LTD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
25/02/2011 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
20, COLLYER QUAY, 24-00, 049319, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
20, COLLYER QUAY, 24-00, TUNG CENTRE, 049319, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-62202222 |
||||
|
FAX.NO. |
: |
65-62201100 |
||||
|
WEB SITE |
: |
WWW.AWINRESOURCE.COM |
||||
|
CONTACT PERSON |
: |
WANG WENYIN ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
INVESTMENT HOLDING COMPANIES & TRADING OF FERROUS AND NON-FERROUS
METALS |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
20,000,010.00 ORDINARY SHARE, OF A VALUE OF SGD 20,000,010.00 |
||||
|
SALES |
: |
USD 2,137,399,745 [2014] |
||||
|
NET WORTH |
: |
USD 61,672,975 [2014] |
||||
|
STAFF STRENGTH |
: |
60 [2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
LIMITED |
||||
|
PAYMENT |
: |
AVERAGE |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
MARGINAL 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) investment
holding companies & trading of ferrous and non-ferrous metals.
The immediate holding company of the Subject is AMER INTERNATIONAL GROUP
PTE. LTD., a company incorporated in SINGAPORE.
The ultimate holding company of the Subject is TONGHUI WORLDWIDE GROUP
LIMITED, a company incorporated in VIRGIN ISLANDS, BRITISH.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
25/11/2015 |
SGD 20,000,010.00 & USD 43,600,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
LIU JIEHONG + |
138, GRANGE ROAD, 11-02, PARKVIEW ECLAT, 249617, SINGAPORE. |
S7187257B |
22,200,000.00 |
30.00 |
|
WANG WENYIN + |
138, GRANGE ROAD, 11-02, PARKVIEW ECLAT, 249617, SINGAPORE. |
S6868693H |
14,060,000.00 |
19.00 |
|
AMER INTERNATIONAL GROUP PTE. LTD. |
20, COLLYER QUAY, 24-00 |
201317204Z |
37,740,000.00 |
51.00 |
|
--------------- |
------ |
|||
|
74,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
WANG WENYIN |
|
Address |
: |
138, GRANGE ROAD, 11-02, PARKVIEW ECLAT, 249617, SINGAPORE. |
|
IC / PP No |
: |
S6868693H |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
25/02/2011 |
|
Remark |
: |
SGD-14,000,007, USD-59,993 |
DIRECTOR 2
|
Name Of Subject |
: |
LIU JIEHONG |
|
Address |
: |
138, GRANGE ROAD, 11-02, PARKVIEW ECLAT, 249617, SINGAPORE. |
|
IC / PP No |
: |
S7187257B |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
25/02/2011 |
|
Remark |
: |
SGD-6,000,003, USD-16,199,997 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
WANG WENYIN |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
ERNST & YOUNG LLP |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MR. CHEN CHEE CHOONG |
|
IC / PP No |
: |
S2702764D |
|
|
Address |
: |
866, WOODLANDS STREET, 83, 05-321, 730866, SINGAPORE. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
THE BANK OF EAST ASIA LIMITED |
|
2) |
Name |
: |
ING BANK N.V. |
|
3) |
Name |
: |
SOCIETE GENERALE |
|
4) |
Name |
: |
ABN AMRO BANK N.V. |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C201207564 |
08/07/2012 |
N/A |
THE BANK OF EAST ASIA LIMITED |
- |
Unsatisfied |
|
C201207565 |
08/07/2012 |
N/A |
THE BANK OF EAST ASIA LIMITED |
- |
Unsatisfied |
|
C201208186 |
23/07/2012 |
N/A |
THE BANK OF EAST ASIA LIMITED |
- |
Unsatisfied |
|
C201315261 |
13/11/2013 |
N/A |
ING BANK N.V. |
- |
Unsatisfied |
|
C201407558 |
22/07/2014 |
N/A |
SOCIETE GENERALE |
- |
Unsatisfied |
|
C201407926 |
30/07/2014 |
N/A |
ABN AMRO BANK N.V. |
- |
Unsatisfied |
|
C201410963 |
09/10/2014 |
N/A |
CREDIT SUISSE AG |
- |
Unsatisfied |
|
C201410966 |
09/10/2014 |
N/A |
CREDIT SUISSE AG |
- |
Unsatisfied |
|
C201410967 |
09/10/2014 |
N/A |
CREDIT SUISSE AG |
- |
Unsatisfied |
|
C201410972 |
09/10/2014 |
N/A |
CREDIT SUISSE AG |
- |
Unsatisfied |
|
C201410973 |
09/10/2014 |
N/A |
CREDIT SUISSE AG |
- |
Unsatisfied |
|
C201502254 |
16/02/2015 |
N/A |
CREDIT SUISSE AG |
- |
Unsatisfied |
|
C201502255 |
16/02/2015 |
N/A |
CREDIT SUISSE AG |
- |
Unsatisfied |
|
C201505779 |
19/05/2015 |
N/A |
CIMB BANK BERHAD |
- |
Unsatisfied |
|
C201505780 |
19/05/2015 |
N/A |
CIMB BANK BERHAD |
- |
Unsatisfied |
|
C201505784 |
19/05/2015 |
N/A |
CIMB BANK BERHAD |
- |
Unsatisfied |
|
C201508340 |
23/07/2015 |
N/A |
CREDIT SUISSE AG |
- |
Unsatisfied |
|
C201511406 |
06/10/2015 |
N/A |
CREDIT SUISSE AG |
- |
Unsatisfied |
|
C201511412 |
06/10/2015 |
N/A |
CREDIT SUISSE AG |
- |
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 |
: |
YES |
|
Overseas |
: |
YES |
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
X |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
FERROUS AND NON-FERROUS METALS |
|
|
Services |
: |
INVESTMENT HOLDING COMPANIES |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2015 |
||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
60 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) investment holding
companies & trading of ferrous and non-ferrous metals.
The Group sells wide spectrum of metals in the ferrous and non-ferrous
industries.
* Ferrous Division
Main products traded include raw materials (Iron Ore, Coking Coal, Pig Iron,
HBI and Scrap) and semi-finished/finished products (Billets, Debar, HRC).
* Non-Ferrous Division
Main metals traded include refined products such as Copper, Nickel, Tin, Zinc,
Lead, Aluminium and Silver as well as concentrates, associated ores and
secondary products.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62202222 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
20, COLLYER QUAY, 24-00, TUNG CENTRE,049319,SINGAPORE |
|
Current Address |
: |
20, COLLYER QUAY, 24-00, TUNG CENTRE, 049319, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and he provided some
information.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2012 - 2014 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2012 - 2014 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
1.63% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
1.91% |
] |
|
|
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. The unfavourable return on shareholders' funds could indicate
that the Subject was inefficient in utilising its assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
1 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
14 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
6 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding cost.
This had reduced funds being tied up in stocks. The favourable debtors' days
could be due to the good credit control measures implemented by the Subject.
The Subject had a favourable creditors' ratio where the Subject could be
taking advantage of the cash discounts and also wanting to maintain goodwill
with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
1.17 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.22 Times |
] |
|
|
A minimum liquid ratio of 1 should be maintained by the Subject in
order to assure its creditors of its ability to meet short term obligations and
the Subject was in a good liquidity position. Thus, we believe the Subject is
able to meet all its short term obligations as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Unfavourable |
[ |
2.27 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.54 Times |
] |
|
|
The Subject's interest cover was low. If its profits fall or when
interest rate rises, it may not be able to meet all its interest payment.
The Subject was lowly geared thus it had a low financial risk. The Subject
was mainly financed by its shareholders' funds and internally generated
funds. In times of economic slowdown / downturn, the Subject being a lowly
geared company, will be able to compete better than those companies which are
highly geared in the same industry. |
||||||
|
Overall Assessment : |
||||||
|
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. If there is a fall in the Subject's profit or any
increase in interest rate, the Subject may not be able to generate sufficient
cash-flow to service its interest. The Subject as a lowly geared company,
will be more secured compared to those highly geared companies. It has the
ability to meet all its long term obligations. |
||||||
|
Overall financial condition of the Subject : LIMITED |
||||||
|
|
||||||
SINGAPORE
ECONOMIC / INDUSTRY OUTLOOK
|
|
Major Economic Indicators : |
2010 |
2011 |
2012 |
2013 |
2014 |
|
|
|||||
|
Population (Million) |
5.08 |
5.18 |
5.31 |
5.40 |
5.47 |
|
Gross Domestic Products ( % ) |
14.5 |
4.9 |
1.3 |
3.7 |
(3.5) |
|
Consumer Price Index |
2.8 |
5.2 |
4.6 |
2.4 |
2.4 |
|
Total Imports (Million) |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
463,779.1 |
|
Total Exports (Million) |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
518,922.7 |
|
|
|||||
|
Unemployment Rate (%) |
2.2 |
2.1 |
2.0 |
1.9 |
1.9 |
|
Tourist Arrival (Million) |
11.64 |
13.17 |
14.49 |
15.46 |
15.01 |
|
Hotel Occupancy Rate (%) |
85.6 |
86.5 |
86.4 |
86.3 |
85.5 |
|
Cellular Phone Subscriber (Million) |
1.43 |
1.50 |
1.52 |
1.97 |
1.98 |
|
|
|||||
|
Registration of New Companies (No.) |
29,798 |
32,317 |
31,892 |
37,288 |
41,589 |
|
Registration of New Companies (%) |
12.8 |
8.5 |
(1.3) |
9.8 |
11.5 |
|
Liquidation of Companies (No.) |
15,126 |
19,005 |
17,218 |
17,369 |
18,767 |
|
Liquidation of Companies (%) |
(32.5) |
25.6 |
9.4 |
(5.3) |
8.0 |
|
|
|||||
|
Registration of New Businesses (No.) |
23,978 |
23,494 |
24,788 |
22,893 |
35,773 |
|
Registration of New Businesses (%) |
(10.78) |
2.02 |
5.51 |
1.70 |
56.30 |
|
Liquidation of Businesses (No.) |
24,211 |
23,005 |
22,489 |
22,598 |
22,098 |
|
Liquidation of Businesses (%) |
2.8 |
(5) |
(2.2) |
0.5 |
(2.2) |
|
|
|||||
|
Bankruptcy Orders (No.) |
1,537 |
1,527 |
1,748 |
1,992 |
1,757 |
|
Bankruptcy Orders (%) |
(25.3) |
(0.7) |
14.5 |
14.0 |
(11.8) |
|
Bankruptcy Discharges (No.) |
2,252 |
1,391 |
1,881 |
2,584 |
3,546 |
|
Bankruptcy Discharges (%) |
(26.3) |
(38.2) |
35.2 |
37.4 |
37.2 |
|
|
|||||
|
INDUSTRIES ( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production of Principal Crops |
(0.48) |
4.25 |
3.64 |
- |
|
|
Fish Supply & Wholesale |
(10.5) |
12.10 |
(0.5) |
- |
2.80 |
|
|
|||||
|
Manufacturing * |
92.8 |
100.0 |
100.3 |
102.0 |
|
|
Food, Beverages & Tobacco |
96.4 |
100.0 |
103.5 |
103.5 |
105.0 |
|
Textiles |
122.1 |
100.0 |
104.0 |
87.1 |
74.9 |
|
Wearing Apparel |
123.3 |
100.0 |
92.1 |
77.8 |
49.5 |
|
Leather Products & Footwear |
81.8 |
100.0 |
98.6 |
109.8 |
95.9 |
|
Wood & Wood Products |
104.0 |
100.0 |
95.5 |
107.4 |
112.0 |
|
Paper & Paper Products |
106.1 |
100.0 |
97.4 |
103.2 |
103.4 |
|
Printing & Media |
103.5 |
100.0 |
93.0 |
86.1 |
80.3 |
|
Crude Oil Refineries |
95.6 |
100.0 |
99.4 |
93.5 |
85.6 |
|
Chemical & Chemical Products |
97.6 |
100.0 |
100.5 |
104.1 |
114.0 |
|
Pharmaceutical Products |
75.3 |
100.0 |
109.7 |
107.2 |
115.7 |
|
Rubber & Plastic Products |
112.3 |
100.0 |
96.5 |
92.9 |
92.8 |
|
Non-metallic Mineral |
92.5 |
100.0 |
98.2 |
97.6 |
82.2 |
|
Basic Metals |
102.2 |
100.0 |
90.6 |
76.5 |
98.3 |
|
Fabricated Metal Products |
103.6 |
100.0 |
104.3 |
105.1 |
105.1 |
|
Machinery & Equipment |
78.5 |
100.0 |
112.9 |
114.5 |
124.0 |
|
Electrical Machinery |
124.1 |
100.0 |
99.3 |
108.5 |
121.3 |
|
Electronic Components |
113.6 |
100.0 |
90.6 |
94.3 |
95.0 |
|
Transport Equipment |
94.0 |
100.0 |
106.3 |
107.5 |
103.2 |
|
|
|||||
|
Construction |
14.20 |
20.50 |
28.70 |
- |
22.00 |
|
Real Estate |
21.3 |
25.4 |
31.9 |
- |
145.1 |
|
|
|||||
|
Services |
|||||
|
Electricity, Gas & Water |
4.00 |
7.00 |
6.30 |
- |
|
|
Transport, Storage & Communication |
12.80 |
7.40 |
5.30 |
- |
14.20 |
|
Finance & Insurance |
(0.4) |
8.90 |
0.50 |
- |
6.00 |
|
Government Services |
9.70 |
6.90 |
6.00 |
- |
|
|
Education Services |
(0.9) |
(1.4) |
0.30 |
- |
5.98 |
|
|
|||||
|
* Based on Index of Industrial Production (2011 = 100) |
INDUSTRY
ANALYSIS
|
|
INDUSTRY : |
ECONOMY |
|
The Ministry of Trade and Industry (MTI) announced that it expects the
Singapore economy to grow by around 3.0% in 2014, and by 2.0 to 4.0% in 2015.
Besides that in 2013, the economy grew by 4.1%, higher than the 1.9% growth
in 2012. This was mainly due to strong growth in the services producing
industries, particularly the finance & insurance, as well as wholesale
& retail trade sectors. |
|
|
In 2013, all sectors contributed positively to growth. Finance &
insurance was the largest contributor (1.2 percentage-points), followed by
wholesale & retail trade (0.8 percentage-points) and business services
(0.6 percentage-points). Growth in the manufacturing sector was improved by
1.7%, on the back of strong growth in the electronics and transport
engineering clusters. By contrast, growth in the construction sector
moderated to 5.9%, from 8.6% in 2012. |
|
|
Growth in the services producing industries picked up to 5.3% in 2013,
from 2.0% in 2012. This was mainly due to stronger growth in the finance
& insurance and wholesale & retail trade sectors. The finance & insurance
sector grew by 11%, up from 1.3% in the previous year. The wholesale &
retail trade sector has expanded by 5.0%, after declining by 1.4% the year
before. |
|
|
For the whole of 2013, growth in total demand was 3.1%, similar to the
pace of growth in 2012. External demand was the key contributor to total
demand growth, accounting for 2.7 percentage-points, or almost 90%, of the
increase. External demand grew at a faster pace of 3.6%, compared to the 1.4%
growth in 2012. This was supported mainly by growth in the exports of
machinery & transport equipment, miscellaneous manufactures, and
transport services. Total domestic demand rose by a modest 1.7%, following
the 8.6% increase in 2012. The slower growth in total domestic demand was
primarily due to the decline in gross fixed capital formation (GFCF). |
|
|
For the full year, total consumption expenditure grew by 4.4% in 2013,
faster than the 2.8% growth in 2012. Public consumption expenditure increased
by 11%, a strong rebound from the 1.9% decline in 2012. Private consumption
expenditure recorded gains of 2.7%, moderating from the 4.1% increase in the
preceding year. |
|
|
Furthermore, in the first three quarters of 2014, the Singapore economy
grew by 3.3% on a year-on-year basis. For the rest of the year, growth is
expected to ease slightly on a year-on-year basis, in line with a projected
slowdown in the global economy. Externally-oriented sectors such as the
manufacturing and transportation & storage sectors are likely to slow,
whereas growth in the construction sector will continue to be weighed down by
the weakness in private sector construction activities. On the other hand,
domestically-oriented sectors like business services are likely to remain
resilient. |
|
|
Additionally, the labour market in Singapore is expected to remain
tight in 2015, with low unemployment and rising vacancy rates. Against this
global and domestic backdrop, the growth outlook for the Singapore economy
remains modest. In tandem with the expected pick-up in external demand,
externally-oriented sectors such as manufacturing, wholesale trade and
finance & insurance are likely to provide support to growth. While some
domestically-oriented sectors such as businesses services are expected to
remain resilient, labour-intensive ones like construction, retail and food
services may see their growth weighed down by labour constraints. |
|
|
OVERALL INDUSTRY OUTLOOK : MARGINAL GROWTH |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
AWIN RESOURCE INTERNATIONAL PTE. LTD. |
|
Financial Year End |
2014-12-31 |
2013-12-31 |
2012-12-31 |
|
Months |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
|
TURNOVER |
2,137,399,745 |
5,306,149,300 |
717,496,307 |
|
Other Income |
757,186 |
691,297 |
(370,490) |
|
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
2,138,156,931 |
5,306,840,597 |
717,125,817 |
|
Costs of Goods Sold |
(2,131,303,657) |
(5,303,683,665) |
(712,297,443) |
|
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
6,853,274 |
3,156,932 |
4,828,374 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
1,003,905 |
191,596 |
904,325 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
1,003,905 |
191,596 |
904,325 |
|
Taxation |
- |
(348,637) |
(66,000) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
1,003,905 |
(157,041) |
838,325 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As previously reported |
669,070 |
826,111 |
(12,214) |
|
---------------- |
---------------- |
---------------- |
|
|
As restated |
669,070 |
826,111 |
(12,214) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
1,672,975 |
669,070 |
826,111 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
1,672,975 |
669,070 |
826,111 |
|
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||
|
Letter of credit |
- |
- |
3,309,340 |
|
Term loan / Borrowing |
786,950 |
739,939 |
- |
|
Others |
4,697 |
- |
50,364 |
|
---------------- |
---------------- |
---------------- |
|
|
791,647 |
739,939 |
3,359,704 |
|
|
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
1,429,891 |
868,918 |
75,651 |
|
---------------- |
---------------- |
---------------- |
|
|
1,429,891 |
868,918 |
75,651 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
BALANCE
SHEET
|
|
AWIN RESOURCE INTERNATIONAL PTE. LTD. |
|
ASSETS EMPLOYED: |
|||
|
FIXED ASSETS |
25,001,965 |
23,354,297 |
18,767,048 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||
|
Subsidiary companies |
2,000,000 |
- |
- |
|
Investment properties |
34,847,423 |
35,350,635 |
35,728,045 |
|
Others |
960,197 |
- |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
37,807,620 |
35,350,635 |
35,728,045 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
62,809,585 |
58,704,932 |
54,495,093 |
|
Short term quoted/unquoted investments |
331,974 |
- |
- |
|
Stocks |
6,743,966 |
- |
2,245,600 |
|
Trade debtors |
80,913,149 |
78,449,799 |
3,911,823 |
|
Other debtors, deposits & prepayments |
35,458,614 |
31,437,555 |
40,197,900 |
|
Short term deposits |
- |
1,022,160 |
1,022,160 |
|
Amount due from related companies |
45,510,863 |
44,282,701 |
- |
|
Cash & bank balances |
3,241,395 |
44,742,271 |
2,344,942 |
|
Others |
147,796 |
7,650,624 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
172,347,757 |
207,585,110 |
49,722,425 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
235,157,342 |
266,290,042 |
104,217,518 |
|
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||
|
Trade creditors |
35,045,032 |
58,952,420 |
31,573,848 |
|
Other creditors & accruals |
32,438,106 |
34,447,548 |
11,367,879 |
|
Hire purchase & lease creditors |
12,685 |
- |
- |
|
Other borrowings |
1,141,253 |
1,254,429 |
1,215,045 |
|
Amounts owing to holding company |
5,132,392 |
2,685,661 |
- |
|
Amounts owing to related companies |
66,656,891 |
64,170,526 |
- |
|
Amounts owing to director |
622,624 |
624,068 |
671,734 |
|
Provision for taxation |
- |
205,792 |
66,000 |
|
Other liabilities |
74,125 |
8,398,650 |
4,823,823 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
141,123,108 |
170,739,094 |
49,718,329 |
|
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
31,224,649 |
36,846,016 |
4,096 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
94,034,234 |
95,550,948 |
54,499,189 |
|
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||
|
Ordinary share capital |
60,000,000 |
60,000,000 |
16,400,008 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
60,000,000 |
60,000,000 |
16,400,008 |
|
Retained profit/(loss) carried forward |
1,672,975 |
669,070 |
826,111 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
1,672,975 |
669,070 |
826,111 |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
61,672,975 |
60,669,070 |
17,226,119 |
|
Other long term borrowings |
32,155,916 |
34,676,535 |
37,273,070 |
|
Deferred taxation |
205,343 |
205,343 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
32,361,259 |
34,881,878 |
37,273,070 |
|
---------------- |
---------------- |
---------------- |
|
|
94,034,234 |
95,550,948 |
54,499,189 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
FINANCIAL
RATIO
|
|
AWIN RESOURCE INTERNATIONAL PTE. LTD. |
|
TYPES OF FUNDS |
|||
|
Cash |
3,241,395 |
45,764,431 |
3,367,102 |
|
Net Liquid Funds |
3,241,395 |
45,764,431 |
3,367,102 |
|
Net Liquid Assets |
24,480,683 |
36,846,016 |
(2,241,504) |
|
Net Current Assets/(Liabilities) |
31,224,649 |
36,846,016 |
4,096 |
|
Net Tangible Assets |
94,034,234 |
95,550,948 |
54,499,189 |
|
Net Monetary Assets |
(7,880,576) |
1,964,138 |
(39,514,574) |
|
PROFIT & LOSS ITEMS |
|||
|
Earnings Before Interest & Tax (EBIT) |
1,795,552 |
931,535 |
4,264,029 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
3,225,443 |
1,800,453 |
4,339,680 |
|
BALANCE SHEET ITEMS |
|||
|
Total Borrowings |
33,309,854 |
35,930,964 |
38,488,115 |
|
Total Liabilities |
173,484,367 |
205,620,972 |
86,991,399 |
|
Total Assets |
235,157,342 |
266,290,042 |
104,217,518 |
|
Net Assets |
94,034,234 |
95,550,948 |
54,499,189 |
|
Net Assets Backing |
61,672,975 |
60,669,070 |
17,226,119 |
|
Shareholders' Funds |
61,672,975 |
60,669,070 |
17,226,119 |
|
Total Share Capital |
60,000,000 |
60,000,000 |
16,400,008 |
|
Total Reserves |
1,672,975 |
669,070 |
826,111 |
|
LIQUIDITY (Times) |
|||
|
Cash Ratio |
0.02 |
0.27 |
0.07 |
|
Liquid Ratio |
1.17 |
1.22 |
0.95 |
|
Current Ratio |
1.22 |
1.22 |
1.00 |
|
WORKING CAPITAL CONTROL (Days) |
|||
|
Stock Ratio |
1 |
0 |
1 |
|
Debtors Ratio |
14 |
5 |
2 |
|
Creditors Ratio |
6 |
4 |
16 |
|
SOLVENCY RATIOS (Times) |
|||
|
Gearing Ratio |
0.54 |
0.59 |
2.23 |
|
Liabilities Ratio |
2.81 |
3.39 |
5.05 |
|
Times Interest Earned Ratio |
2.27 |
1.26 |
1.27 |
|
Assets Backing Ratio |
1.57 |
1.59 |
3.32 |
|
PERFORMANCE RATIO (%) |
|||
|
Operating Profit Margin |
0.05 |
0 |
0.13 |
|
Net Profit Margin |
0.05 |
0 |
0.12 |
|
Return On Net Assets |
1.91 |
0.97 |
7.82 |
|
Return On Capital Employed |
1.91 |
0.97 |
7.82 |
|
Return On Shareholders' Funds/Equity |
1.63 |
(0.26) |
4.87 |
|
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.66.38 |
|
|
1 |
Rs.100.45 |
|
Euro |
1 |
Rs.70.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.