|
Report No. : |
345306 |
|
Report Date : |
20.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
URSCHEL ASIA PACIFIC PTE. LTD. |
|
|
|
|
Registered Office : |
10, Tagore Lane, 787473 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
05.11.2003 |
|
|
|
|
Com. Reg. No.: |
200311223-K |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is engaged in wholesale of food equipment and machineries |
|
|
|
|
No. of Employee : |
9 [2015] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SINGAPORE - ECONOMIC OVERVIEW
Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. Unemployment is very low. The economy depends heavily on exports, particularly of consumer electronics, information technology products, medical and optical devices, pharmaceuticals, and on its vibrant transportation, business, and financial services sectors. The economy contracted 0.6% in 2009 as a result of the global financial crisis, but has continued to grow since 2010 on the strength of renewed exports. Growth in 2014 was slower at 2.9%, largely a result of soft demand for exports amid a sluggish global economy and weak growth in Singapore’s manufacturing sector. The government is attempting to restructure Singapore’s economy by weaning its dependence on foreign labor, addressing weak productivity, and increasing Singaporean wages. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to strengthen its position as Southeast Asia's leading financial and high-tech hub. Singapore is a member of the 12-nation Trans-Pacific Partnership free trade negotiations, the Regional Comprehensive Economic Partnership negotiations with the nine other ASEAN members plus Australia, China, India, Japan, South Korea and New Zealand, and in 2015, Singapore will form, with the other ASEAN members, the ASEAN Economic Community.
|
Source
: CIA |
|
REGISTRATION NO. |
: |
200311223-K |
|
COMPANY NAME |
: |
URSCHEL ASIA PACIFIC PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
05/11/2003 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
10, TAGORE LANE, 787473,
SINGAPORE. |
|
BUSINESS ADDRESS |
: |
10, TAGORE LANE, 787473,
SINGAPORE. |
|
TEL.NO. |
: |
65-62547757 |
|
FAX.NO. |
: |
65-62546676 |
|
WEB SITE |
: |
WWW.URSCHEL.COM |
|
CONTACT PERSON |
: |
TIMOTHY HOWARD O'BRIEN ( DIRECTOR
) |
|
PRINCIPAL ACTIVITY |
: |
WHOLESALE OF FOOD EQUIPMENT AND
MACHINERIES |
|
ISSUED AND PAID UP CAPITAL |
: |
10,000.00 ORDINARY SHARE, OF A
VALUE OF SGD 10,000.00 |
|
SALES |
: |
SGD 16,210,800 [2014] |
|
NET WORTH |
: |
SGD 9,899,820 [2014] |
|
STAFF STRENGTH |
: |
9 [2015] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STRONG |
|
PAYMENT |
: |
PROMPT |
|
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) wholesale of food equipment and machineries.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
16/10/2015 |
SGD 10,000.00 |
The major shareholder(s) of the
Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
URSCHEL LABORATORIES INC. |
2503, CALUMET AVENUE, VALPARAISO,
INDIANA, 46383, UNITED STATES. |
T04UF0576L |
10,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
10,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other
companies (Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
Status |
(%) |
As At |
|
THAILAND |
URSCHEL (THAILAND) LIMITED |
- |
51.00 |
31/12/2013 |
DIRECTOR 1
|
Name Of Subject |
: |
MR. TIMOTHY HOWARD O'BRIEN |
|
Address |
: |
4806, LAKERIDGE COURT, VALPARAISO,
INDIANA, 46383, UNITED STATES. |
|
IC / PP No |
: |
457234282 |
|
Nationality |
: |
AMERICAN |
|
Date of Appointment |
: |
05/11/2003 |
DIRECTOR 2
|
Name Of Subject |
: |
TAN LI FONG |
|
Address |
: |
10, HOUGANG STREET, 92, 14-05,
REGENTVILLE, 538687, SINGAPORE. |
|
IC / PP No |
: |
S7025919B |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
01/01/2008 |
DIRECTOR 3
|
Name Of Subject |
: |
WONG FUT MENG |
|
Address |
: |
327, SEMBAWANG CRESCENT, 11-30,
750327, SINGAPORE. |
|
IC / PP No |
: |
S7471316E |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
01/10/2013 |
DIRECTOR 4
|
Name Of Subject |
: |
DANIEL DWIGHT MARCHETTI |
|
Address |
: |
2403, WILLIAM CT., VALPARAISO, IN,
46385, UNITED STATES. |
|
IC / PP No |
: |
457234281 |
|
Nationality |
: |
AMERICAN |
|
Date of Appointment |
: |
01/04/2013 |
DIRECTOR 5
|
Name Of Subject |
: |
PATRICK CHARLES URSCHEL |
|
Address |
: |
201, ERIE STREET, VALPARAISO,
INDIANA, 46383, UNITED STATES. |
|
IC / PP No |
: |
458589449 |
|
Nationality |
: |
AMERICAN |
|
Date of Appointment |
: |
05/11/2003 |
|
1) |
Name of Subject |
: |
TIMOTHY HOWARD O'BRIEN |
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
RSM CHIO LIM LLP |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
SIM CHENG LIN |
|
IC / PP No |
: |
S2005404B |
|
|
Address |
: |
10C, BRADDELL HILL, 05-09,
BRADDELL VIEW, 579722, SINGAPORE. |
|
|
2) |
Company Secretary |
: |
SEAH KIM SWEE |
|
IC / PP No |
: |
S0045970D |
|
|
Address |
: |
1D, CANTONMENT ROAD, 36-39,
PINNACLE @ DUXTON, THE, 085401, SINGAPORE. |
|
No Banker found in our databank.
No encumbrance was found in our databank at the time of investigation.
* 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 disclosed 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 |
[ |
X |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Goods Traded |
: |
FOOD EQUIPMENT AND MACHINERIES |
|
|
Total Number of Employees: |
||
|
YEAR |
2015 |
2014 |
|
GROUP |
N/A |
N/A |
|
COMPANY |
9 |
9 |
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) wholesale of food equipment
and machineries.
The Subject is dealing with Food Processing Equipment & Supplies.
Latest fresh investigations carried
out on the Subject indicated that :
|
Telephone Number Provided By
Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62547757 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
10 TAGORE LANE SINGAPORE 787473 |
|
Current Address |
: |
10, TAGORE LANE, 787473,
SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and she provided limited
information on the Subject.
The Subject refused to disclose its bankers.
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2010 - 2014 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2010 - 2014 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
15.02% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
17.70% |
] |
|
|
The
Subject's turnover increased steadily as the demand for its products /
services increased due to the goodwill built up over the years.The dip in
profit could be due to the stiff market competition which reduced the
Subject's profit margin. The Subject's management had generated acceptable
return for its shareholders using its assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Acceptable |
[ |
63 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
17 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
8 Days |
] |
|
|
The
Subject kept adequate stocks to meet its normal business transactions without
incurring excessive storage costs. 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 |
[ |
1.93 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
3.10 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 |
: |
Nil |
[ |
0.00 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The
Subject's interest cover was nil as it did not pay any interest during the year.
The Subject had no gearing and hence it had virtually no financial risk. The
Subject was financed by its shareholders' funds and internally generated
fund. During the economic downturn, the Subject, having a zero gearing, will
be able to compete better than those which are highly geared in the same
industry. |
||||||
|
Overall Assessment : |
||||||
|
Although
the Subject's turnover had increased, its profits had declined over the same corresponding
period. This could be due to the stiffer market competition and / or higher
operating costs which lowered the Subject's profit margin. 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 did not make any
interest payment during the year. The Subject was dependent on its
shareholders' funds to finance its business needs. 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 : STRONG |
||||||
|
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 : |
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 2003, the Subject is a Private Limited company, focusing on wholesale of food
equipment and machineries. Having been in the industry for over a decade, the
Subject has achieved a certain market share and has built up a satisfactory
reputation in the market. It should have received supports from its regular
customers. Presently, the issued and paid up capital of the Subject stands at
SGD 10,000. However, with a strong backing from its shareholder, the Subject
enjoys timely financial assistance should the needs arise. .
|
|
|
|
THE FINANCIAL STATEMENTS WERE
PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
URSCHEL ASIA PACIFIC 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 |
GROUP |
GROUP |
GROUP |
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 |
SUMMARY |
SUMMARY |
|
Currency |
SGD |
SGD |
SGD |
SGD |
SGD |
|
TURNOVER |
16,210,800 |
15,051,812 |
12,452,221 |
14,326,880 |
11,755,859 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
16,210,800 |
15,051,812 |
12,452,221 |
14,326,880 |
11,755,859 |
|
Costs of Goods Sold |
(11,938,754) |
(10,960,928) |
(8,841,165) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
4,272,046 |
4,090,884 |
3,611,056 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
1,755,839 |
1,961,730 |
938,505 |
1,629,377 |
1,211,949 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
1,755,839 |
1,961,730 |
938,505 |
1,629,377 |
1,211,949 |
|
Taxation |
(269,230) |
(361,115) |
(244,114) |
(490,951) |
(278,288) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
1,486,609 |
1,600,615 |
694,391 |
1,138,426 |
933,661 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT
FORWARD |
|||||
|
As previously reported |
8,305,956 |
6,736,666 |
6,076,518 |
3,552,808 |
2,619,147 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
8,305,956 |
6,736,666 |
6,076,518 |
3,552,808 |
2,619,147 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR
APPROPRIATIONS |
9,792,565 |
8,337,281 |
6,770,909 |
4,691,234 |
3,552,808 |
|
TRANSFER TO RESERVES - Statutory |
- |
(31,325) |
(34,243) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED
FORWARD |
9,792,565 |
8,305,956 |
6,736,666 |
4,691,234 |
3,552,808 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to
P&L) |
|||||
|
Others |
- |
4,903 |
36,175 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
- |
4,903 |
36,175 |
- |
- |
|
|
- |
============= |
============= |
- |
- |
|
|
DEPRECIATION (as per notes to
P&L) |
331,953 |
261,625 |
278,318 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
331,953 |
261,625 |
278,318 |
- |
- |
|
|
============= |
============= |
============= |
|
URSCHEL ASIA PACIFIC PTE. LTD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
4,263,802 |
3,978,192 |
3,836,776 |
4,207,010 |
678,248 |
|
Associated companies |
609,964 |
515,571 |
521,735 |
- |
- |
|
Deferred assets |
34,042 |
31,986 |
35,133 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER
ASSETS |
644,006 |
547,557 |
556,868 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
4,907,808 |
4,525,749 |
4,393,644 |
4,207,010 |
678,248 |
|
Stocks |
2,791,495 |
2,524,604 |
2,603,484 |
- |
- |
|
Trade debtors |
762,399 |
466,543 |
160,979 |
- |
- |
|
Other debtors, deposits &
prepayments |
399,070 |
180,227 |
181,605 |
- |
- |
|
Amount due from holding company |
22,823 |
67,750 |
6,184 |
- |
- |
|
Amount due from associated
companies |
25,971 |
62,148 |
25,062 |
- |
- |
|
Cash & bank balances |
3,400,025 |
3,433,660 |
2,107,795 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
7,401,783 |
6,734,932 |
5,085,109 |
3,940,156 |
5,186,838 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
12,309,591 |
11,260,681 |
9,478,753 |
8,147,166 |
5,865,086 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
273,074 |
166,151 |
1,765,101 |
- |
- |
|
Deposits from customers |
891,361 |
711,856 |
282,179 |
- |
- |
|
Amounts owing to holding company |
787,300 |
1,786,534 |
198,535 |
- |
- |
|
Amounts owing to associated
companies |
34,202 |
53,408 |
53,744 |
- |
- |
|
Provision for taxation |
402,882 |
224,003 |
161,864 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
2,388,819 |
2,941,952 |
2,461,423 |
4,073,351 |
2,285,861 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
5,012,964 |
3,792,980 |
2,623,686 |
(133,195) |
2,900,977 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
9,920,772 |
8,318,729 |
7,017,330 |
4,073,815 |
3,579,225 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
10,000 |
10,000 |
10,000 |
10,000 |
10,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
10,000 |
10,000 |
10,000 |
10,000 |
10,000 |
|
Exchange equalisation/fluctuation
reserve |
(71,859) |
(183,413) |
(185,495) |
- |
- |
|
Statutory reserve |
169,114 |
169,114 |
137,789 |
- |
- |
|
Retained profit/(loss) carried
forward |
9,792,565 |
8,305,956 |
6,736,666 |
4,691,234 |
3,552,808 |
|
Others |
- |
- |
- |
(627,419) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
9,889,820 |
8,291,657 |
6,688,960 |
4,063,815 |
3,552,808 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
9,899,820 |
8,301,657 |
6,698,960 |
4,073,815 |
3,562,808 |
|
Deferred taxation |
20,952 |
17,072 |
10,862 |
- |
- |
|
Others |
- |
- |
307,508 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
20,952 |
17,072 |
318,370 |
- |
16,417 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
9,920,772 |
8,318,729 |
7,017,330 |
4,073,815 |
3,579,225 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
URSCHEL ASIA PACIFIC PTE. LTD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
3,400,025 |
3,433,660 |
2,107,795 |
- |
- |
|
Net Liquid Funds |
3,400,025 |
3,433,660 |
2,107,795 |
- |
- |
|
Net Liquid Assets |
2,221,469 |
1,268,376 |
20,202 |
(133,195) |
2,900,977 |
|
Net Current Assets/(Liabilities) |
5,012,964 |
3,792,980 |
2,623,686 |
(133,195) |
2,900,977 |
|
Net Tangible Assets |
9,920,772 |
8,318,729 |
7,017,330 |
4,073,815 |
3,579,225 |
|
Net Monetary Assets |
2,200,517 |
1,251,304 |
(298,168) |
(133,195) |
2,884,560 |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax
(EBIT) |
1,755,839 |
1,966,633 |
974,680 |
- |
- |
|
Earnings Before Interest, Taxes, Depreciation
And Amortization (EBITDA) |
2,087,792 |
2,228,258 |
1,252,998 |
- |
- |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
0 |
0 |
0 |
- |
- |
|
Total Liabilities |
2,409,771 |
2,959,024 |
2,779,793 |
4,073,351 |
2,302,278 |
|
Total Assets |
12,309,591 |
11,260,681 |
9,478,753 |
8,147,166 |
5,865,086 |
|
Net Assets |
9,920,772 |
8,318,729 |
7,017,330 |
4,073,815 |
3,579,225 |
|
Net Assets Backing |
9,899,820 |
8,301,657 |
6,698,960 |
4,073,815 |
3,562,808 |
|
Shareholders' Funds |
9,899,820 |
8,301,657 |
6,698,960 |
4,073,815 |
3,562,808 |
|
Total Share Capital |
10,000 |
10,000 |
10,000 |
10,000 |
10,000 |
|
Total Reserves |
9,889,820 |
8,291,657 |
6,688,960 |
4,063,815 |
3,552,808 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
1.42 |
1.17 |
0.86 |
- |
- |
|
Liquid Ratio |
1.93 |
1.43 |
1.01 |
- |
- |
|
Current Ratio |
3.10 |
2.29 |
2.07 |
0.97 |
2.27 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
63 |
61 |
76 |
- |
- |
|
Debtors Ratio |
17 |
11 |
5 |
- |
- |
|
Creditors Ratio |
8 |
6 |
73 |
- |
- |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0 |
0 |
0 |
- |
- |
|
Liabilities Ratio |
0.24 |
0.36 |
0.41 |
1.00 |
0.65 |
|
Times Interest Earned Ratio |
0 |
401.11 |
26.94 |
- |
- |
|
Assets Backing Ratio |
992.08 |
831.87 |
701.73 |
407.38 |
357.92 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
10.83 |
13.03 |
7.54 |
11.37 |
10.31 |
|
Net Profit Margin |
9.17 |
10.63 |
5.58 |
7.95 |
7.94 |
|
Return On Net Assets |
17.70 |
23.64 |
13.89 |
40.00 |
33.86 |
|
Return On Capital Employed |
17.70 |
23.64 |
13.89 |
40.00 |
33.86 |
|
Return On Shareholders'
Funds/Equity |
15.02 |
19.28 |
10.37 |
27.94 |
26.21 |
|
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.64.82 |
|
|
1 |
Rs.100.12 |
|
Euro |
1 |
Rs.73.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
ASH |
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.