|
Report No. : |
351519 |
|
Report Date : |
28.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
WE COMPONENTS PTE.
LTD. |
|
|
|
|
Formerly Known As : |
PLEXUS COMPONENTS PTE LTD |
|
|
|
|
Registered Office : |
10, UBI Crescent, 03-94/95, UBI Techpark, 408564 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation : |
31.10.1997 |
|
|
|
|
Com. Reg. No.: |
199707469-R |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading of Electronics Components. |
|
|
|
|
No. of Employees : |
16 [2015] |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SINGAPORE - ECONOMIC OVERVIEW
Singapore has a highly developed and successful free-market
economy. It enjoys a remarkably open and corruption-free environment, stable
prices, and a per capita GDP higher than that of most developed countries.
Unemployment is very low. The economy depends heavily on exports, particularly
of consumer electronics, information technology products, medical and optical
devices, pharmaceuticals, and on its vibrant transportation, business, and
financial services sectors. The economy contracted 0.6% in 2009 as a result of
the global financial crisis, but has continued to grow since 2010 on the
strength of renewed exports. Growth in 2014 was slower at 2.9%, largely a
result of soft demand for exports amid a sluggish global economy and weak
growth in Singapore’s manufacturing sector. The government is attempting to
restructure Singapore’s economy by weaning its dependence on foreign labor,
addressing weak productivity, and increasing Singaporean wages. Singapore has
attracted major investments in pharmaceuticals and medical technology
production and will continue efforts to strengthen its position as Southeast
Asia's leading financial and high-tech hub. Singapore is a member of the
12-nation Trans-Pacific Partnership free trade negotiations, the Regional
Comprehensive Economic Partnership negotiations with the nine other ASEAN
members plus Australia, China, India, Japan, South Korea and New Zealand, and
in 2015, Singapore will form, with the other ASEAN members, the ASEAN Economic
Community.
|
Source
: CIA |
|
REGISTRATION NO. |
: |
199707469-R |
||||
|
COMPANY NAME |
: |
WE COMPONENTS PTE. LTD. |
||||
|
FORMER NAME |
: |
PLEXUS COMPONENTS PTE LTD (29/03/2011) |
||||
|
INCORPORATION DATE |
: |
31/10/1997 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
10, UBI CRESCENT, 03-94/95, UBI TECHPARK, 408564, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
10, UBI CRESCENT, 03-94/95, UBI TECHPARK,, 408564, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-63112900 |
||||
|
FAX.NO. |
: |
65-63112933 |
||||
|
CONTACT PERSON |
: |
TERENCE TEA YEOK KIAN ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF ELECTRONICS COMPONENTS |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
9,276,797.00 ORDINARY SHARE, OF A VALUE OF SGD 9,450,000.00 |
||||
|
SALES |
: |
SGD 69,688,798 [2015] |
||||
|
NET WORTH |
: |
SGD 7,257,474 [2015] |
||||
|
STAFF STRENGTH |
: |
16 [2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STABLE |
||||
|
PAYMENT |
: |
AVERAGE |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
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
electronics components.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
25/11/2015 |
SGD 9,450,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
JUBILEE INDUSTRIES HOLDINGS LTD. |
10, UBI
CRESCENT, 03-94-96, UBI TECHPARK |
200904797H |
9,276,797.00 |
100.00 |
|
--------------- |
------ |
|||
|
9,276,797.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
|
Local No |
Country |
Company |
Status |
(%) |
As At |
|
200205621K |
SINGAPORE |
WE MICROELECTRONICS PTE. LTD. |
- |
100.00 |
25/11/2015 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
KELVIN LOH ENG LOCK |
|
Address |
: |
84, KEW DRIVE, KEW GROVE, 467991, SINGAPORE. |
|
IC / PP No |
: |
S7421147Z |
|
Date of Birth |
: |
01/01/1970 |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
06/05/2011 |
DIRECTOR 2
|
Name Of Subject |
: |
TERENCE TEA YEOK KIAN |
|
Address |
: |
4, LUCKY HEIGHTS, 467548, SINGAPORE. |
|
IC / PP No |
: |
S6803374H |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
11/03/2013 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
TERENCE TEA YEOK KIAN |
|
Position |
: |
DIRECTOR |
AUDITOR
|
|
Auditor |
: |
NEXIA TS PUBLIC ACCOUNTING CORPORATION |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
JOANNA LIM LAN SIM |
|
IC / PP No |
: |
S1572261D |
|
|
Address |
: |
165, TAMPINES STREET 12, 09-305, 521165, SINGAPORE. |
|
|
2) |
Company Secretary |
: |
LEE WEI HSIUNG |
|
IC / PP No |
: |
S7927166G |
|
|
Address |
: |
633, JURONG WEST STREET 65, 10-310, 640633, SINGAPORE. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
DBS BANK LTD |
|
2) |
Name |
: |
STANDARD CHARTERED BANK |
|
3) |
Name |
: |
UNITED OVERSEAS BANK LIMITED |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C200305916 |
09/12/2003 |
N/A |
UNITED OVERSEAS BANK LIMITED |
- |
Unsatisfied |
|
C200805110 |
05/06/2008 |
N/A |
DBS BANK LTD. |
- |
Unsatisfied |
|
C200805199 |
09/06/2008 |
N/A |
UNITED OVERSEAS BANK LIMITED |
- |
Unsatisfied |
|
C200811123 |
17/12/2008 |
N/A |
DBS BANK LTD. |
- |
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 |
[ |
] |
Average 61-90 Days |
[ |
X |
] |
|||||
|
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 |
: |
ELECTRONICS COMPONENTS |
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2015 |
2014 |
2013 |
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
16 |
36 |
36 |
||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of electronics
components.
The Subject's products are as follows:
* optical mouse sensor,mobile sensor,digital contact sensor, irled tx/rx ic for
wireless mouse
* integrated circuits and integrated hall-effect magnetic sensor
* power management unit for cellular phone audio fe for mobile music,power
metering chipset,standard and feature phones ic. mosfets,power ics, transient,
voltage suppressor
* high performance audio amplifier,analog switch
* acoustic echo cancellation,noise reduction,network echo,cancellation, cound
enhancement,full duplex control silicon solution-desktop
speakerphone,hands-free car,kit,voip
* xdsl transformer, lan/hub/routers transformer, cable, modem
* linear regulator,switch converter,standard linear,motor driver audio power
amplifier,bipolar transistor, schottky barrier wafer
* audio amplifier,tp controller,touch sensor,ldo
* led drivers,charge pumps,digital potentiometers,voltages supervisors,voltage
supervisors with eeprom memory,linear regulators
* quartz crystals & oscillators,rf & timing module,ceramic
components,resistor /electrocomponents,heat sinks / thermal management
solutions
* ltccs,chip varistors,chip inductors,power inductors,chip beads,ferrite
beads,common mode filters
* dram,nand flash,mcp,doc,psram
* integrated phs baseboard ic
* others
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-63112900 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
10 UBI CRESCENT UBI TECHPARK LOBBY E#03-94 SINGAPORE 408564 |
|
Current Address |
: |
10, UBI CRESCENT, 03-94/95, UBI TECHPARK,, 408564, SINGAPORE. |
|
Match |
: |
NO |
Other Investigations
We contacted one of the staff from the Subject and she provided some
information.
The address provided is incomplete.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2012 - 2015 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2012 - 2015 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
39.53% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
32.91% |
] |
|
|
The Subject's turnover increased steadily as the demand for its
products / services increased due to the goodwill built up over the years.The
management had succeeded in turning the Subject into a profit making company.
The profit could be due to better control of its operating costs and
efficiency in utilising its resources. Generally the Subject was profitable.
The favourable return on shareholders' funds and return on net assets
indicate that the Subject's management was efficient in utilising the assets
to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
44 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
100 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
56 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding cost. This
had reduced funds being tied up in stocks. The Subject's debtors ratio was
high. The Subject should tighten its credit control and improve its
collection period. 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 |
[ |
0.81 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.06 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 |
[ |
10.47 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.24 Times |
] |
|
|
The interest cover showed that the Subject was able to service the
interest. The favourable interest cover could indicate that the Subject was
making enough profit to pay for the interest accrued. The Subject was lowly geared
thus it had a low financial risk. The Subject was mainly financed by its
shareholders' funds and internally generated funds. In times of economic
slowdown / downturn, the Subject being a lowly geared company, will be able
to compete better than those companies which are highly geared in the same
industry. |
||||||
|
Overall Assessment : |
||||||
|
The higher turnover had helped to reduce the Subject's losses. 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
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 : 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. |
|
WE COMPONENTS PTE. LTD. |
|
Financial Year End |
2015-03-31 |
2014-03-31 |
2013-03-31 |
2012-03-31 |
|
Months |
12 |
12 |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
GROUP |
GROUP |
|
Audited Account |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
|
Currency |
SGD |
SGD |
SGD |
SGD |
|
TURNOVER |
69,688,798 |
55,896,858 |
52,273,712 |
70,683,817 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
69,688,798 |
55,896,858 |
52,273,712 |
70,683,817 |
|
Costs of Goods Sold |
(64,996,608) |
(53,385,699) |
(49,043,399) |
(64,730,601) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
4,692,190 |
2,511,159 |
3,230,313 |
5,953,216 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
2,865,019 |
(3,759,218) |
(1,170,188) |
(1,558,755) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
2,865,019 |
(3,759,218) |
(1,170,188) |
(1,558,755) |
|
Taxation |
3,579 |
(200) |
(36,815) |
(249,138) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
2,868,598 |
(3,759,418) |
(1,207,003) |
(1,807,893) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||||
|
As previously reported |
(8,002,503) |
(4,243,085) |
(3,036,082) |
(1,228,189) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
(8,002,503) |
(4,243,085) |
(3,036,082) |
(1,228,189) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(5,133,905) |
(8,002,503) |
(4,243,085) |
(3,036,082) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(5,133,905) |
(8,002,503) |
(4,243,085) |
(3,036,082) |
|
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
||||
|
Others |
302,488 |
600,640 |
564,462 |
795,458 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
302,488 |
600,640 |
564,462 |
795,458 |
|
|
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
227,949 |
175,383 |
209,283 |
134,909 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
227,949 |
175,383 |
209,283 |
134,909 |
|
|
============= |
============= |
============= |
============= |
BALANCE
SHEET
|
|
WE COMPONENTS PTE. LTD. |
|
ASSETS EMPLOYED: |
||||
|
FIXED ASSETS |
269,637 |
7,255,346 |
6,830,092 |
6,315,227 |
|
Associated companies |
- |
- |
- |
44,003 |
|
Others |
7,300,000 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
7,300,000 |
- |
- |
44,003 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
7,569,637 |
7,255,346 |
6,830,092 |
6,359,230 |
|
Stocks |
8,463,590 |
5,506,525 |
3,259,420 |
3,427,549 |
|
Trade debtors |
19,133,419 |
12,211,910 |
13,696,954 |
8,854,228 |
|
Other debtors, deposits & prepayments |
1,378,776 |
1,067,323 |
971,324 |
540,553 |
|
Amount due from related companies |
732,230 |
436,284 |
- |
- |
|
Cash & bank balances |
6,367,490 |
6,373,084 |
6,158,290 |
7,060,042 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
36,075,505 |
25,595,126 |
24,085,988 |
19,882,372 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
43,645,142 |
32,850,472 |
30,916,080 |
26,241,602 |
|
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
||||
|
Trade creditors |
10,041,112 |
15,066,901 |
11,057,772 |
6,239,983 |
|
Other creditors & accruals |
1,506,194 |
10,371,320 |
1,464,990 |
3,592,194 |
|
Short term borrowings/Term loans |
125,462 |
119,514 |
- |
- |
|
Other borrowings |
- |
598,317 |
- |
- |
|
Other liabilities & accruals |
- |
- |
8,257,378 |
5,393,719 |
|
Amounts owing to related companies |
22,334,401 |
- |
- |
- |
|
Provision for taxation |
11,817 |
18,049 |
56,849 |
31,529 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
34,018,986 |
26,174,101 |
20,836,989 |
15,257,425 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
2,056,519 |
(578,975) |
3,248,999 |
4,624,947 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
9,626,156 |
6,676,371 |
10,079,091 |
10,984,177 |
|
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
||||
|
Ordinary share capital |
9,450,000 |
9,450,000 |
9,450,000 |
9,450,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
9,450,000 |
9,450,000 |
9,450,000 |
9,450,000 |
|
Revaluation reserve |
325,341 |
321,836 |
- |
- |
|
Exchange equalisation/fluctuation reserve |
(185,387) |
88,479 |
- |
- |
|
Retained profit/(loss) carried forward |
(5,133,905) |
(8,002,503) |
(4,243,085) |
(3,036,082) |
|
Others |
2,801,425 |
2,391,110 |
2,391,110 |
1,972,213 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
(2,192,526) |
(5,201,078) |
(1,851,975) |
(1,063,869) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
7,257,474 |
4,248,922 |
7,598,025 |
8,386,131 |
|
Long term loans |
1,597,903 |
1,723,352 |
- |
- |
|
Deferred taxation |
770,779 |
704,097 |
638,179 |
532,820 |
|
Others |
- |
- |
1,842,887 |
2,065,226 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
2,368,682 |
2,427,449 |
2,481,066 |
2,598,046 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
9,626,156 |
6,676,371 |
10,079,091 |
10,984,177 |
|
|
============= |
============= |
============= |
============= |
FINANCIAL
RATIO
|
|
WE COMPONENTS PTE. LTD. |
|
TYPES OF FUNDS |
||||
|
Cash |
6,367,490 |
6,373,084 |
6,158,290 |
7,060,042 |
|
Net Liquid Funds |
6,367,490 |
6,373,084 |
6,158,290 |
7,060,042 |
|
Net Liquid Assets |
(6,407,071) |
(6,085,500) |
(10,421) |
1,197,398 |
|
Net Current Assets/(Liabilities) |
2,056,519 |
(578,975) |
3,248,999 |
4,624,947 |
|
Net Tangible Assets |
9,626,156 |
6,676,371 |
10,079,091 |
10,984,177 |
|
Net Monetary Assets |
(8,775,753) |
(8,512,949) |
(2,491,487) |
(1,400,648) |
|
PROFIT & LOSS ITEMS |
||||
|
Earnings Before Interest & Tax (EBIT) |
3,167,507 |
(3,158,578) |
(605,726) |
(763,297) |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
3,395,456 |
(2,983,195) |
(396,443) |
(628,388) |
|
BALANCE SHEET ITEMS |
||||
|
Total Borrowings |
1,723,365 |
2,441,183 |
0 |
0 |
|
Total Liabilities |
36,387,668 |
28,601,550 |
23,318,055 |
17,855,471 |
|
Total Assets |
43,645,142 |
32,850,472 |
30,916,080 |
26,241,602 |
|
Net Assets |
9,626,156 |
6,676,371 |
10,079,091 |
10,984,177 |
|
Net Assets Backing |
7,257,474 |
4,248,922 |
7,598,025 |
8,386,131 |
|
Shareholders' Funds |
7,257,474 |
4,248,922 |
7,598,025 |
8,386,131 |
|
Total Share Capital |
9,450,000 |
9,450,000 |
9,450,000 |
9,450,000 |
|
Total Reserves |
(2,192,526) |
(5,201,078) |
(1,851,975) |
(1,063,869) |
|
LIQUIDITY (Times) |
||||
|
Cash Ratio |
0.19 |
0.24 |
0.30 |
0.46 |
|
Liquid Ratio |
0.81 |
0.77 |
1.00 |
1.08 |
|
Current Ratio |
1.06 |
0.98 |
1.16 |
1.30 |
|
WORKING CAPITAL CONTROL (Days) |
||||
|
Stock Ratio |
44 |
36 |
23 |
18 |
|
Debtors Ratio |
100 |
80 |
96 |
46 |
|
Creditors Ratio |
56 |
103 |
82 |
35 |
|
SOLVENCY RATIOS (Times) |
||||
|
Gearing Ratio |
0.24 |
0.57 |
0 |
0 |
|
Liabilities Ratio |
5.01 |
6.73 |
3.07 |
2.13 |
|
Times Interest Earned Ratio |
10.47 |
(5.26) |
(1.07) |
(0.96) |
|
Assets Backing Ratio |
1.02 |
0.71 |
1.07 |
1.16 |
|
PERFORMANCE RATIO (%) |
||||
|
Operating Profit Margin |
4.11 |
(6.73) |
(2.24) |
(2.21) |
|
Net Profit Margin |
4.12 |
(6.73) |
(2.31) |
(2.56) |
|
Return On Net Assets |
32.91 |
(47.31) |
(6.01) |
(6.95) |
|
Return On Capital Employed |
32.91 |
(47.31) |
(6.01) |
(6.95) |
|
Return On Shareholders' Funds/Equity |
39.53 |
(88.48) |
(15.89) |
(21.56) |
|
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.100.68 |
|
Euro |
1 |
Rs.70.88 |
|
SGD |
1 |
Rs.47.26 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.