|
Report No. : |
351753 |
|
Report Date : |
28.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
PACIFIC PHARMACEUTICALS PTE LTD |
|
|
|
|
Registered Office : |
101, Upper Cross Street, 04-43, People's Park Centre, 058357 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
29.10.1996 |
|
|
|
|
Com. Reg. No.: |
199607776-R |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is engaged in the trading of pharmaceuticals. |
|
|
|
|
No. of Employees : |
Not Available |
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 : |
Moderate |
|
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. |
: |
199607776-R |
||||
|
COMPANY NAME |
: |
PACIFIC PHARMACEUTICALS PTE LTD |
||||
|
FORMER NAME |
: |
A A MEDICAL PRODUCTS CORPORATION PTE LTD (29/09/1998) |
||||
|
INCORPORATION DATE |
: |
29/10/1996 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
101, UPPER CROSS STREET, 04-43, PEOPLE'S PARK CENTRE, 058357,
SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
101 CECIL ST HEX 17-07 TONG ENG BUILDING, 069533, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-62271230 |
||||
|
FAX.NO. |
: |
N/A |
||||
|
CONTACT PERSON |
: |
KHIN SWE OO ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF PHARMACEUTICALS |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
587,002.00 ORDINARY SHARE, OF A VALUE OF SGD 587,002.00 |
||||
|
SALES |
: |
USD 16,350,615 [2014] |
||||
|
NET WORTH |
: |
USD 514,028 [2014] |
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
LIMITED |
||||
|
PAYMENT |
: |
GOOD |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
N/A |
||||
|
CURRENCY EXPOSURE |
: |
N/A |
||||
|
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
pharmaceuticals.
The immediate holding company of the Subject is BEMIDJI INVESTMENTS LTD,
a company incorporated in VIRGIN ISLANDS, BRITISH.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
26/11/2015 |
SGD 587,002.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
BEMIDJI INVESTMENTS LTD |
SEA MEADOW HOUSE, BLACKBURNE HIGHWAY (P.O.BOX 116), ROAD TOWN, TORTOLA |
T08UF2599 |
587,002.00 |
100.00 |
|
--------------- |
------ |
|||
|
587,002.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
EDWARD JUN HAO LEE |
|
Address |
: |
389, BUKIT BATOK WEST AVENUE 5, 09-396, 650389, SINGAPORE. |
|
IC / PP No |
: |
S7281206I |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
05/06/2008 |
DIRECTOR 2
|
Name Of Subject |
: |
MDM. KHIN SWE OO |
|
Address |
: |
163, GANGSA ROAD, 02-90, 670163, SINGAPORE. |
|
IC / PP No |
: |
S2725083A |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
05/06/2008 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
KHIN SWE OO |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
G. S. CHUA & CO. |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MS. LIM SWEE HWA |
|
IC / PP No |
: |
S1437147H |
|
|
Address |
: |
224, BISHAN STREET 23, 06-125, 570224, SINGAPORE. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
UNITED OVERSEAS BANK LIMITED |
|
2) |
Name |
: |
THE BANK OF EAST ASIA LIMITED |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C200505491 |
13/09/2005 |
N/A |
THE BANK OF EAST ASIA LIMITED |
- |
Unsatisfied |
|
C200702303 |
26/03/2007 |
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 |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its clientele.
OPERATIONS
|
|
Goods Traded |
: |
PHARMACEUTICALS |
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of
pharmaceuticals.
The Subject refused to disclose its operations.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62271230 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
101 CECIL ST HEX 17-07 IONG ENG BUILD SINGAPORE 069533 |
|
Current Address |
: |
101 CECIL ST HEX 17-07 TONG ENG BUILDING, 069533, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and she only provided limited
information.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2010 - 2014 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2010 - 2014 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
(3.22%) |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
(3.20%) |
] |
|
|
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
incurred losses during the year due to the inefficient control of its
operating costs. The Subject's unfavourable returns on shareholders' funds
indicate the management's inefficiency in utilising its assets to generate
returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Nil |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
71 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
4 Days |
] |
|
|
As the Subject is a service oriented company, the Subject does not
need to keep 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 |
: |
Favourable |
[ |
1.10 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.10 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 |
[ |
(432.68 Times) |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.20 Times |
] |
|
|
The Subject incurred losses in the year. It did not generate
sufficient income to service its interest. If the situation does not
improve, the Subject may be vulnerable to default in servicing the interest.
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 Subject's turnover increased its profits however showed a
reverse trend. The losses could be due to the management's failure to maintain
its competitiveness in the market. 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's interest cover was negative, indicating that
it did not generate sufficient income to service its interest. If its result
does not show impressive improvements or succeed obtaining short term
financing or capital injection, it may not be able to service its interest
and repay the loans. 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 : |
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. |
|
PACIFIC PHARMACEUTICALS PTE LTD |
|
Financial Year End |
2014-12-31 |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
SUMMARY |
|
Currency |
USD |
USD |
USD |
USD |
SGD |
|
TURNOVER |
16,350,615 |
14,949,456 |
8,229,459 |
8,766,427 |
11,399,708 |
|
Other Income |
3,342 |
3,178 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
16,353,957 |
14,952,634 |
8,229,459 |
8,766,427 |
11,399,708 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(16,480) |
9,868 |
36,087 |
7,265 |
51,084 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
(16,480) |
9,868 |
36,087 |
7,265 |
51,084 |
|
Taxation |
(87) |
(1,381) |
(460) |
(481) |
46 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
(16,567) |
8,487 |
35,627 |
6,784 |
51,130 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
184,677 |
176,190 |
140,563 |
133,779 |
(31,075) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
184,677 |
176,190 |
140,563 |
133,779 |
(31,075) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
168,110 |
184,677 |
176,190 |
140,563 |
20,055 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
168,110 |
184,677 |
176,190 |
140,563 |
20,055 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Bank overdraft |
38 |
24 |
290 |
217 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
38 |
24 |
290 |
217 |
- |
|
|
============= |
============= |
============= |
============= |
- |
|
|
|
|
|
|
|
|
BALANCE
SHEET
|
|
PACIFIC PHARMACEUTICALS PTE LTD |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
- |
- |
- |
- |
1 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
- |
- |
- |
- |
1 |
|
Trade debtors |
3,187,870 |
4,005,911 |
1,080,368 |
1,312,554 |
- |
|
Other debtors, deposits & prepayments |
- |
53,331 |
- |
- |
- |
|
Short term deposits |
781,454 |
796,355 |
810,062 |
781,633 |
- |
|
Cash & bank balances |
1,566,276 |
300,628 |
43,491 |
105,711 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
5,535,600 |
5,156,225 |
1,933,921 |
2,199,898 |
2,440,428 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
5,535,600 |
5,156,225 |
1,933,921 |
2,199,898 |
2,440,429 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
162,732 |
50,675 |
8,569 |
340,770 |
- |
|
Other creditors & accruals |
490 |
- |
- |
- |
- |
|
Bank overdraft |
- |
- |
2,707 |
1,352 |
- |
|
Bill & acceptances payable |
102,746 |
465,060 |
521,453 |
360,737 |
- |
|
Amounts owing to related companies |
4,750,819 |
4,103,622 |
873,564 |
1,002,138 |
- |
|
Provision for taxation |
- |
- |
450 |
540 |
- |
|
Proposed directors' fees |
- |
- |
4,908 |
7,728 |
- |
|
Other liabilities |
4,638 |
6,116 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
5,021,425 |
4,625,473 |
1,411,651 |
1,713,265 |
1,833,145 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
514,175 |
530,752 |
522,270 |
486,633 |
607,283 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
514,175 |
530,752 |
522,270 |
486,633 |
607,284 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
345,918 |
345,918 |
345,918 |
345,918 |
587,002 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
345,918 |
345,918 |
345,918 |
345,918 |
587,002 |
|
Retained profit/(loss) carried forward |
168,110 |
184,677 |
176,190 |
140,563 |
20,055 |
|
Others |
- |
- |
- |
- |
0 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
168,110 |
184,677 |
176,190 |
140,563 |
20,055 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
514,028 |
530,595 |
522,108 |
486,481 |
607,057 |
|
Deferred taxation |
147 |
157 |
162 |
152 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
147 |
157 |
162 |
152 |
227 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
514,175 |
530,752 |
522,270 |
486,633 |
607,284 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL
RATIO
|
|
PACIFIC PHARMACEUTICALS PTE LTD |
|
TYPES OF FUNDS |
|||||
|
Cash |
2,347,730 |
1,096,983 |
853,553 |
887,344 |
- |
|
Net Liquid Funds |
2,244,984 |
631,923 |
329,393 |
525,255 |
- |
|
Net Liquid Assets |
514,175 |
530,752 |
522,270 |
486,633 |
607,283 |
|
Net Current Assets/(Liabilities) |
514,175 |
530,752 |
522,270 |
486,633 |
607,283 |
|
Net Tangible Assets |
514,175 |
530,752 |
522,270 |
486,633 |
607,284 |
|
Net Monetary Assets |
514,028 |
530,595 |
522,108 |
486,481 |
607,056 |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
(16,442) |
9,892 |
36,377 |
7,482 |
- |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
(16,442) |
9,892 |
36,377 |
7,482 |
- |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
102,746 |
465,060 |
524,160 |
362,089 |
- |
|
Total Liabilities |
5,021,572 |
4,625,630 |
1,411,813 |
1,713,417 |
1,833,372 |
|
Total Assets |
5,535,600 |
5,156,225 |
1,933,921 |
2,199,898 |
2,440,429 |
|
Net Assets |
514,175 |
530,752 |
522,270 |
486,633 |
607,284 |
|
Net Assets Backing |
514,028 |
530,595 |
522,108 |
486,481 |
607,057 |
|
Shareholders' Funds |
514,028 |
530,595 |
522,108 |
486,481 |
607,057 |
|
Total Share Capital |
345,918 |
345,918 |
345,918 |
345,918 |
587,002 |
|
Total Reserves |
168,110 |
184,677 |
176,190 |
140,563 |
20,055 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.47 |
0.24 |
0.60 |
0.52 |
- |
|
Liquid Ratio |
1.10 |
1.11 |
1.37 |
1.28 |
- |
|
Current Ratio |
1.10 |
1.11 |
1.37 |
1.28 |
1.33 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
0 |
0 |
0 |
0 |
- |
|
Debtors Ratio |
71 |
98 |
48 |
55 |
- |
|
Creditors Ratio |
4 |
1 |
0 |
14 |
- |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.20 |
0.88 |
1.00 |
0.74 |
- |
|
Liabilities Ratio |
9.77 |
8.72 |
2.70 |
3.52 |
3.02 |
|
Times Interest Earned Ratio |
(432.68) |
412.17 |
125.44 |
34.48 |
- |
|
Assets Backing Ratio |
1.49 |
1.53 |
1.51 |
1.41 |
1.03 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
(0.10) |
0.07 |
0.44 |
0.08 |
0.45 |
|
Net Profit Margin |
(0.10) |
0.06 |
0.43 |
0.08 |
0.45 |
|
Return On Net Assets |
(3.20) |
1.86 |
6.97 |
1.54 |
8.41 |
|
Return On Capital Employed |
(3.20) |
1.86 |
6.93 |
1.53 |
8.41 |
|
Return On Shareholders' Funds/Equity |
(3.22) |
1.60 |
6.82 |
1.39 |
8.42 |
|
Dividend Pay Out Ratio (Times) |
0 |
0 |
0 |
0 |
- |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.75 |
|
|
1 |
Rs.100.67 |
|
Euro |
1 |
Rs.70.87 |
|
SGD |
1 |
Rs.47.26 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
AMR |
|
|
|
|
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.