|
Report No. : |
344261 |
|
Report Date : |
08.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
NOBLE RESOURCES INTERNATIONAL PTE. LTD. |
|
|
|
|
Registered Office : |
60, Anson Road, 19-01, Mapletree Anson, 079914 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
29.06.2011 |
|
|
|
|
Com. Reg. No.: |
201115304-N |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is
engaged in trading of agricultural, energy products, metals and minerals,
investment holding. |
|
|
|
|
No. of Employees : |
200 |
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 |
|
REGISTRATION NO. |
: |
201115304-N |
|
COMPANY NAME |
: |
NOBLE RESOURCES
INTERNATIONAL PTE. LTD. |
|
FORMER NAME |
: |
NOBLE RESOURCES
SINGAPORE PTE. LTD. (25/07/2011) |
|
INCORPORATION
DATE |
: |
29/06/2011 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
60, ANSON ROAD,
19-01, MAPLETREE ANSON, 079914, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
60, ANSON ROAD,
19-01, MAPLETREE ANSON, 079914, SINGAPORE. |
|
TEL.NO. |
: |
65-63054888 |
|
FAX.NO. |
: |
65-64054889 |
|
WEB SITE |
: |
WWW.THISISNOBLE.COM |
|
CONTACT PERSON |
: |
NEIL TIMOTHY
DHAR ( DIRECTOR ) |
|
PRINCIPAL
ACTIVITY |
: |
TRADING OF
AGRICULTURAL, ENERGY PRODUCTS, METALS AND MINERALS, INVESTMENT HOLDING |
|
ISSUED AND PAID
UP CAPITAL |
: |
88,136,500.00
ORDINARY SHARE, OF A VALUE OF SGD 88,136,500.00 |
|
SALES |
: |
USD
11,086,303,000 [2014] |
|
NET WORTH |
: |
USD 380,966,000
[2014] |
|
STAFF STRENGTH |
: |
200 [2015] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL
CONDITION |
: |
FAIR |
|
PAYMENT |
: |
SLOW BUT CORRECT
|
|
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 agricultural, energy
products, metals and minerals, investment holding.
The immediate
holding company of the Subject is NOBLE RESOURCES GROUP LIMITED, a company
incorporated in VIRGIN ISLANDS, BRITISH.
Share
Capital History
|
Date |
Issue & Paid
Up Capital |
|
08/10/2015 |
SGD
88,136,500.00 |
The major
shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
NOBLE RESOURCES
GROUP LIMITED |
P. O. BOX 957, OFFSHORE
INCORPORATIONS CENTRE, ROAD TOWN, TORTOLA, VIRGIN ISLANDS, BRITISH. |
T03UF0001 |
88,136,500.00 |
100.00 |
|
--------------- |
------ |
|||
|
88,136,500.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest
in other companies (Subsidiaries/Associates) are shown as follow :
Local No |
Country |
Company |
Status |
(%) |
As At |
|
201129166G |
SINGAPORE |
ZEAL RESOURCES
PTE. LTD. |
- |
100.00 |
08/10/2015 |
|
200709936E |
SINGAPORE |
NOBLE PLANTATIONS
PTE. LTD. |
- |
100.00 |
08/10/2015 |
|
201004485D |
SINGAPORE |
ENERGY COAL
MARKETING ASIA PTE. LTD. |
- |
100.00 |
08/10/2015 |
|
200712611E |
SINGAPORE |
NHCL PTE. LTD. |
- |
100.00 |
08/10/2015 |
|
201131155K |
SINGAPORE |
JAPET RESOURCES PTE.
LTD. |
- |
100.00 |
08/10/2015 |
|
200707807K |
SINGAPORE |
NOBLE
INTERNATIONAL TRADING SINGAPORE PTE. LTD. |
- |
100.00 |
08/10/2015 |
|
200106798D |
SINGAPORE |
WORLDWIDE
WAREHOUSE SOLUTIONS SINGAPORE PTE. LTD. |
- |
100.00 |
08/10/2015 |
DIRECTOR
1
|
Name Of Subject |
: |
TIMOTHY MARTIN
EYRE |
|
Address |
: |
FLAT C, 8/F, THE
MANHATTAN, 33, TAI TAM ROAD, STANLEY, HONG KONG. |
|
IC / PP No |
: |
508184894 |
|
Nationality |
: |
BRITISH |
|
Date of
Appointment |
: |
01/11/2011 |
DIRECTOR
2
|
Name Of Subject |
: |
WILLIAM JAMES
RANDALL |
|
Address |
: |
8, ROCHALIE
DRIVE, 248239, SINGAPORE. |
|
IC / PP No |
: |
G5933539T |
|
Nationality |
: |
AUSTRALIAN |
|
Date of Appointment |
: |
17/08/2011 |
DIRECTOR
3
|
Name Of Subject |
: |
NEIL TIMOTHY
DHAR |
|
Address |
: |
64A, MERRYN
ROAD, 298524, SINGAPORE. |
|
IC / PP No |
: |
S2770726B |
|
Nationality |
: |
SINGAPOREAN |
|
Date of
Appointment |
: |
17/08/2011 |
|
1) |
Name of Subject |
: |
NEIL TIMOTHY
DHAR |
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
ERNST &
YOUNG LLP |
|
Auditor' Address |
: |
N/A |
|
1) |
Company
Secretary |
: |
YVONNE ANG RUEY
SHYA |
|
IC / PP No |
: |
S8426403B |
|
|
Address |
: |
213B,
COMPASSVALE LANE, 15-262, 542213, SINGAPORE. |
|
|
2) |
Company
Secretary |
: |
SHARON LIM SIEW
CHOO |
|
IC / PP No |
: |
S7700641I |
|
|
Address |
: |
498F, TAMPINES
STREET 45, 06-424, 524498, SINGAPORE. |
|
No Banker found in our databank.
|
Charge No |
Creation Date |
Charge
Description |
Chargee Name |
Total Charge |
Status |
|
C201403248 |
28/03/2014 |
N/A |
BANCO NACIONAL
DE MEXICO SA |
- |
Unsatisfied |
|
C201505706 |
18/05/2015 |
N/A |
HSBC TRINKAUS
& BURKHARDT AG |
USD
11,000,000.00 |
Unsatisfied |
* 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.
|
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 |
[ |
] |
|||||||||
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
N/A |
|||
|
Goods Traded |
: |
AGRICULTURAL,
ENERGY PRODUCTS, METALS AND MINERALS |
|
Total Number of
Employees: |
|
||||||||
|
YEAR |
2015 |
2014 |
2013 |
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
200 |
200 |
200 |
||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of
agricultural, energy products, metals and minerals, investment holding.
The Noble Group, is a market-leading global supply chain manager of
agricultural and energy products, metals and minerals.
The Group facilitates the marketing, processing, financing and transportation
of essential raw materials. Sourcing bulk commodities from low cost regions
such as South America, South Africa, Australia and Indonesia, the Group supplies
high growth demand markets, particularly in Asia and the Middle East.
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone Number
Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-63054888 |
|
Match |
: |
N/A |
|
Address Provided
by Client |
: |
60, ANSON ROAD,
19-01, MAPLETREE ANSON,079914,SINGAPORE |
|
Current Address |
: |
60, ANSON ROAD,
19-01, MAPLETREE ANSON, 079914, SINGAPORE. |
|
Match |
: |
YES |
sOther Investigations
We contacted one of the staff from the Subject and she provided some
information.
The Subject refused to disclose it's bankers.
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2011 - 2014 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Decreased |
[ |
2011 - 2014 |
] |
|
|
Return on
Shareholder Funds |
: |
Unfavourable |
[ |
8.28% |
] |
|
|
Return on Net
Assets |
: |
Favourable |
[ |
33.80% |
] |
|
|
The fluctuating turnover
reflects the fierce competition among the existing and new market players.The
Subject's profit fell sharply because of the high operating costs incurred.
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 |
[ |
9 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
20 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
21 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 |
: |
Acceptable |
[ |
0.96 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.00 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 |
: |
Unfavourable |
[ |
1.49 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 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 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 : |
||||||
|
The Subject recorded
lower profits as its turnover showed a erratic trend. The Subject's
management was unable to control its costs efficiently as its profit showed a
downward trend. 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. 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 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 : FAIR |
||||||
|
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 : |
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 |
|
|
Incorporated in 2011, the Subject is a Private Limited
company, focusing on trading of agricultural, energy products, metals and
minerals, investment holding. The Subject has been in business for less than
5 years and it has slowly been building up contact with its clients while
competing in the industry. However, it has yet to enjoy a stable market
shares as it need to compete many well established players in the same field.
The Subject is a large entity with strong capital position of SGD 88,136,500.
We are confident with the Subject's business and its future growth prospect.
Having strong support from its holding company has enabled the Subject to
remain competitive despite the challenging business environment.
|
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS. |
|
NOBLE RESOURCES
INTERNATIONAL PTE. LTD. |
|
Financial Year
End |
2014-12-31 |
2013-12-31 |
2012-12-31 |
2011-12-31 |
|
Months |
12 |
12 |
12 |
6 |
|
Consolidated
Account |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
USD |
|
TURNOVER |
11,086,303,000 |
14,887,561,000 |
12,249,509,000 |
1,731,743,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
11,086,303,000 |
14,887,561,000 |
12,249,509,000 |
1,731,743,000 |
|
Costs of Goods
Sold |
(10,835,300,000) |
(14,521,864,000) |
(12,009,083,000) |
(1,674,911,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
251,003,000 |
365,697,000 |
240,426,000 |
56,832,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
42,549,000 |
188,081,000 |
110,435,000 |
5,273,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
42,549,000 |
188,081,000 |
110,435,000 |
5,273,000 |
|
Taxation |
(11,000,000) |
(15,000,000) |
(12,100,000) |
(1,200,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
31,549,000 |
173,081,000 |
98,335,000 |
4,073,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
||||
|
As previously
reported |
275,489,000 |
102,408,000 |
4,073,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
275,489,000 |
102,408,000 |
4,073,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE
FOR APPROPRIATIONS |
307,038,000 |
275,489,000 |
102,408,000 |
4,073,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
307,038,000 |
275,489,000 |
102,408,000 |
4,073,000 |
|
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE
(as per notes to P&L) |
||||
|
Others |
86,208,000 |
56,552,000 |
41,669,000 |
9,365,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
86,208,000 |
56,552,000 |
41,669,000 |
9,365,000 |
|
|
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as
per notes to P&L) |
2,135,000 |
2,255,000 |
2,474,000 |
741,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
2,135,000 |
2,255,000 |
2,474,000 |
741,000 |
|
|
============= |
============= |
============= |
============= |
|
ASSETS EMPLOYED: |
||||
|
FIXED ASSETS |
6,675,000 |
8,682,000 |
10,607,000 |
10,832,000 |
|
LONG TERM
INVESTMENTS/OTHER ASSETS |
||||
|
Subsidiary companies |
17,998,000 |
17,998,000 |
18,032,000 |
17,998,000 |
|
Associated
companies |
60,140,000 |
5,137,000 |
5,137,000 |
4,780,000 |
|
Investments |
40,000,000 |
40,000,000 |
40,000,000 |
- |
|
Investment
securities |
19,661,000 |
6,628,000 |
- |
- |
|
Deferred assets |
- |
- |
- |
4,521,000 |
|
Others |
227,955,000 |
140,942,000 |
35,631,000 |
213,128,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM
INVESTMENTS/OTHER ASSETS |
365,754,000 |
210,705,000 |
98,800,000 |
240,427,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM
ASSETS |
372,429,000 |
219,387,000 |
109,407,000 |
251,259,000 |
|
Stocks |
265,490,000 |
247,425,000 |
52,520,000 |
61,333,000 |
|
Trade debtors |
607,546,000 |
477,355,000 |
376,065,000 |
195,996,000 |
|
Other debtors,
deposits & prepayments |
473,172,000 |
244,989,000 |
316,277,000 |
176,218,000 |
|
Loans &
advances - current portion |
133,621,000 |
119,742,000 |
- |
- |
|
Amount due from
agents, brokers & reinsurers |
14,715,000 |
4,014,000 |
22,000 |
36,254,000 |
|
Amount due from
holding company |
269,629,000 |
84,918,000 |
- |
- |
|
Amount due from
subsidiary companies |
238,460,000 |
41,360,000 |
- |
- |
|
Amount due from
related companies |
476,002,000 |
450,174,000 |
511,830,000 |
383,955,000 |
|
Amount due from
associated companies |
250,000 |
923,000 |
- |
- |
|
Cash & bank
balances |
4,552,000 |
1,752,000 |
683,000 |
6,094,000 |
|
Others |
3,441,798,000 |
2,496,285,000 |
3,718,636,000 |
1,179,926,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT
ASSETS |
5,925,235,000 |
4,168,937,000 |
4,976,033,000 |
2,039,776,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
6,297,664,000 |
4,388,324,000 |
5,085,440,000 |
2,291,035,000 |
|
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
||||
|
Trade creditors |
626,325,000 |
221,462,000 |
193,121,000 |
109,025,000 |
|
Other creditors
& accruals |
760,751,000 |
734,543,000 |
395,682,000 |
284,886,000 |
|
Amounts owing to
holding company |
175,975,000 |
120,324,000 |
- |
- |
|
Amounts owing to
subsidiary companies |
55,561,000 |
75,025,000 |
- |
- |
|
Amounts owing to
related companies |
3,703,783,000 |
2,647,718,000 |
1,887,040,000 |
1,437,723,000 |
|
Provision for
taxation |
9,113,000 |
13,864,000 |
2,275,000 |
1,200,000 |
|
Other
liabilities |
585,190,000 |
229,860,000 |
2,434,489,000 |
509,619,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT
LIABILITIES |
5,916,698,000 |
4,042,796,000 |
4,912,607,000 |
2,342,453,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT
ASSETS/(LIABILITIES) |
8,537,000 |
126,141,000 |
63,426,000 |
(302,677,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
380,966,000 |
345,528,000 |
172,833,000 |
(51,418,000) |
|
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
||||
|
Ordinary share
capital |
70,425,000 |
70,425,000 |
70,425,000 |
30,401,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE
CAPITAL |
70,425,000 |
70,425,000 |
70,425,000 |
30,401,000 |
|
Retained
profit/(loss) carried forward |
307,038,000 |
275,489,000 |
102,408,000 |
4,073,000 |
|
Others |
3,503,000 |
(386,000) |
- |
(85,892,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
310,541,000 |
275,103,000 |
102,408,000 |
(81,819,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
380,966,000 |
345,528,000 |
172,833,000 |
(51,418,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
380,966,000 |
345,528,000 |
172,833,000 |
(51,418,000) |
|
|
============= |
============= |
============= |
============= |
|
TYPES OF FUNDS |
||||
|
Cash |
4,552,000 |
1,752,000 |
683,000 |
6,094,000 |
|
Net Liquid Funds |
4,552,000 |
1,752,000 |
683,000 |
6,094,000 |
|
Net Liquid
Assets |
(256,953,000) |
(121,284,000) |
10,906,000 |
(364,010,000) |
|
Net Current
Assets/(Liabilities) |
8,537,000 |
126,141,000 |
63,426,000 |
(302,677,000) |
|
Net Tangible
Assets |
380,966,000 |
345,528,000 |
172,833,000 |
(51,418,000) |
|
Net Monetary
Assets |
(256,953,000) |
(121,284,000) |
10,906,000 |
(364,010,000) |
|
PROFIT &
LOSS ITEMS |
||||
|
Earnings Before
Interest & Tax (EBIT) |
0 |
244,633,000 |
152,104,000 |
14,638,000 |
|
Earnings Before Interest,
Taxes, Depreciation And Amortization (EBITDA) |
130,892,000 |
246,888,000 |
154,578,000 |
15,379,000 |
|
BALANCE SHEET
ITEMS |
||||
|
Total Borrowings |
0 |
0 |
0 |
0 |
|
Total
Liabilities |
5,916,698,000 |
4,042,796,000 |
4,912,607,000 |
2,342,453,000 |
|
Total Assets |
6,297,664,000 |
4,388,324,000 |
5,085,440,000 |
2,291,035,000 |
|
Net Assets |
380,966,000 |
345,528,000 |
172,833,000 |
(51,418,000) |
|
Net Assets
Backing |
380,966,000 |
345,528,000 |
172,833,000 |
(51,418,000) |
|
Shareholders'
Funds |
380,966,000 |
345,528,000 |
172,833,000 |
(51,418,000) |
|
Total Share
Capital |
70,425,000 |
70,425,000 |
70,425,000 |
30,401,000 |
|
Total Reserves |
310,541,000 |
275,103,000 |
102,408,000 |
(81,819,000) |
|
LIQUIDITY
(Times) |
||||
|
Cash Ratio |
0 |
0 |
0 |
0 |
|
Liquid Ratio |
0.96 |
0.97 |
1.00 |
0.84 |
|
Current Ratio |
1.00 |
1.03 |
1.01 |
0.87 |
|
WORKING CAPITAL
CONTROL (Days) |
||||
|
Stock Ratio |
9 |
6 |
2 |
13 |
|
Debtors Ratio |
20 |
12 |
11 |
41 |
|
Creditors Ratio |
21 |
6 |
6 |
24 |
|
SOLVENCY RATIOS
(Times) |
||||
|
Gearing Ratio |
0 |
0 |
0 |
0 |
|
Liabilities
Ratio |
15.53 |
11.70 |
28.42 |
(45.56) |
|
Times Interest
Earned Ratio |
1.49 |
4.33 |
3.65 |
1.56 |
|
Assets Backing
Ratio |
5.41 |
4.91 |
2.45 |
(1.69) |
|
PERFORMANCE
RATIO (%) |
||||
|
Operating Profit
Margin |
0.38 |
1.26 |
0.90 |
0.30 |
|
Net Profit
Margin |
0.28 |
1.16 |
0.80 |
0.24 |
|
Return On Net
Assets |
33.80 |
70.80 |
88.01 |
(28.47) |
|
Return On
Capital Employed |
33.80 |
70.80 |
88.01 |
(28.47) |
|
Return On
Shareholders' Funds/Equity |
8.28 |
50.09 |
56.90 |
(7.92) |
|
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.65.26 |
|
UK Pound |
1 |
Rs.99.53 |
|
Euro |
1 |
Rs.73.47 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TRU |
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.