|
Report No. : |
346231 |
|
Report Date : |
21.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
EASTMAN CHEMICAL LTD. |
|
|
|
|
Registered Office : |
24, Raffles Place, 15-00, Clifford Centre, 048621 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
11.04.1977 |
|
|
|
|
Com. Reg. No.: |
S77FC2640-L |
|
|
|
|
Legal Form : |
Foreign |
|
|
|
|
Line of Business : |
Subject is engaged in trading of chemicals and chemical products |
|
|
|
|
No. of Employee : |
150 [2015] |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. The economy contracted 0.6% in 2009 as a result of the global financial crisis, but rebounded 15.1% in 2010, on the strength of renewed exports. Growth in 2014 was slower at 13.9%, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub. Singapore is a member of the 12-nation Trans-Pacific Partnership free trade agreement negotiations and, with the nine other ASEAN members, will form the ASEAN Economic Community in 2015.
|
Source
: CIA |
EXECUTIVE
SUMMARY
|
|
REGISTRATION
NO. |
: |
S77FC2640-L |
|
COMPANY
NAME |
: |
EASTMAN CHEMICAL
LTD. |
|
FORMER
NAME |
: |
EASTMAN
CHEMICAL INTERNATIONAL LTD (31/12/1992) |
|
INCORPORATION
DATE |
: |
11/04/1977 |
|
COMPANY
STATUS |
: |
EXIST |
|
LEGAL
FORM |
: |
FOREIGN |
|
LISTED
STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
24,
RAFFLES PLACE, 15-00, CLIFFORD CENTRE, 048621, SINGAPORE. |
|
BUSINESS
ADDRESS |
: |
9TH
NORTH BOUNA VISTA DRIVE # 05-01, METROPOLIS TOWER 1, 138588, SINGAPORE. |
|
TEL.NO. |
: |
65-68313148 |
|
FAX.NO. |
: |
65-67344151 |
|
CONTACT
PERSON |
: |
DAVID
AARON GOLDEN ( DIRECTOR ) |
|
PRINCIPAL
ACTIVITY |
: |
TRADING
OF CHEMICALS AND CHEMICAL PRODUCTS |
|
AUTHORISED
CAPITAL |
: |
USD
200,000.00 |
|
SALES |
: |
USD
228,649,195 [2013] |
|
NET
WORTH |
: |
USD
5,238,310 [2013] |
|
STAFF
STRENGTH |
: |
150
[2015] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL
CONDITION |
: |
STABLE |
|
PAYMENT |
: |
GOOD |
|
MANAGEMENT
CAPABILITY |
: |
GOOD |
|
COMMERCIAL
RISK |
: |
LOW |
|
CURRENCY
EXPOSURE |
: |
MODERATE |
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY
OUTLOOK |
: |
AVERAGE
GROWTH |
HISTORY
/ BACKGROUND
|
The Subject is
principally engaged in the (as a / as an) trading of chemicals and chemical
products.
The immediate and
ultimate holding company of the Subject is EASTMAN CHEMICAL COMPANY, a company
incorporated in UNITED STATES.
Share Capital
History
|
Date |
Authorised Shared
Capital |
Issue & Paid
Up Capital |
|
25/05/2015 |
USD 200,000.00 |
USD 0.00 |
No shareholders was
found in our databank at the time of investigation
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. DAVID AARON
GOLDEN |
|
Address |
: |
1013, PARHAM
PLACE, KINGSPORT, TENNESSEE, 37660, UNITED STATES. |
|
IC / PP No |
: |
423869351 |
|
Nationality |
: |
AMERICAN |
|
Date of
Appointment |
: |
23/05/2012 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
DAVID AARON
GOLDEN |
|
Position |
: |
DIRECTOR |
|
|
|
AUDITOR
|
No Auditor found in our databank
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
ANGELA TEO BEE
LUANG |
|
IC / PP No |
: |
S0017677Z |
|
|
Address |
: |
14, GREENLEAF
DRIVE, BAN GUAN PARK, 279528, SINGAPORE. |
|
|
Remarks |
: |
AGENT |
|
|
2) |
Company Secretary |
: |
SIEW BOON HIM |
|
IC / PP No |
: |
S2143789A |
|
|
Address |
: |
7, MARYMOUNT
TERRACE, 05-06, TRESALVEO, 573963, SINGAPORE. |
|
|
Remarks |
: |
AGENT |
|
|
|
BANKING
|
No Banker found in our databank.
ENCUMBRANCE
(S)
|
No encumbrance was found in our databank at the time of investigation.
LITIGATION CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank againt the Subject whether the
subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
PAYMENT RECORD
|
|
||
|
SOURCES OF RAW
MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
X |
] |
Average 61-90
Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
|||||
|
Local |
: |
YES |
|
|||
|
Domestic Markets |
: |
SINGAPORE |
||||
|
Overseas |
: |
YES |
||||
|
Export Market |
: |
ASIA |
||||
|
Credit Term |
: |
N/A |
||||
|
Payment Mode |
: |
CHEQUES |
||||
OPERATIONS
|
|
Goods Traded |
: |
CHEMICALS AND
CHEMICAL PRODUCTS |
|
|
Total Number of
Employees: |
|
||||||||
|
YEAR |
2015 |
2014 |
2013 |
||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
150 |
100 |
80 |
||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of chemicals
and chemical products.
The Subject deals with chemicals.
The Subject however refused to disclose further information on its operation.
CURRENT INVESTIGATION
|
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone Number
Provided By Client |
: |
N/A |
|
Current Telephone
Number |
: |
65-68313148 |
|
Match |
: |
N/A |
|
Address Provided
by Client |
: |
LIABILITY #05-01
THE METROPOLIS TOWER 1 9 NORTH BUONA VISTA DRIVE SINGAPORE 138588 |
|
Current Address |
: |
9TH NORTH BOUNA VISTA
DRIVE # 05-01, METROPOLIS TOWER 1, 138588, SINGAPORE. |
|
Match |
: |
NO |
Other Investigations
We contacted one of the staff from the Subject and she provided some
information.
The address is as per stated in the report.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2011
- 2013 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Decreased |
[ |
2011
- 2013 |
] |
|
|
Return
on Shareholder Funds |
: |
Favourable |
[ |
176.92% |
] |
|
|
Return
on Net Assets |
: |
Favourable |
[ |
215.27% |
] |
|
|
The
fluctuating turnover reflects the fierce competition among the existing and
new market players.The dip in profit could be due to the stiff market competition
which reduced the Subject's profit margin. 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 |
[ |
7
Days |
] |
|
|
Debtor
Ratio |
: |
Favourable |
[ |
55
Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
2
Days |
] |
|
|
The
Subject's stocks were moving fast thus reducing its holding cost. This had
reduced funds being tied up in stocks. The favourable debtors' days could be
due to the good credit control measures implemented by the Subject. The
Subject had a favourable creditors' ratio where the Subject could be taking
advantage of the cash discounts and also wanting to maintain goodwill with
its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid
Ratio |
: |
Favourable |
[ |
1.03
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
1.14
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 : |
||||||
|
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 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 : STABLE |
||||||
SINGAPORE
ECONOMIC / INDUSTRY OUTLOOK
|
|
Major
Economic Indicators : |
2009 |
2010 |
2011 |
2012 |
2013 |
|
|
|||||
|
Population
(Million) |
4.98 |
5.08 |
5.18 |
5.31 |
5.40 |
|
Gross
Domestic Products ( % ) |
(0.8) |
14.5 |
4.9 |
1.3 |
3.7 |
|
Consumer
Price Index |
0.6 |
2.8 |
5.2 |
4.6 |
2.4 |
|
Total
Imports (Million) |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
|
Total
Exports (Million) |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
|
|
|||||
|
Unemployment
Rate (%) |
3.2 |
2.2 |
2.1 |
2.0 |
1.9 |
|
Tourist
Arrival (Million) |
9.68 |
11.64 |
13.17 |
14.49 |
15.46 |
|
Hotel
Occupancy Rate (%) |
75.8 |
85.6 |
86.5 |
86.4 |
86.3 |
|
Cellular
Phone Subscriber (Million) |
1.37 |
1.43 |
1.50 |
1.52 |
1.97 |
|
|
|||||
|
Registration
of New Companies (No.) |
26,414 |
29,798 |
32,317 |
31,892 |
37,288 |
|
Registration
of New Companies (%) |
4.3 |
12.8 |
8.5 |
(1.3) |
9.8 |
|
Liquidation
of Companies (No.) |
22,393 |
15,126 |
19,005 |
17,218 |
17,369 |
|
Liquidation
of Companies (%) |
113.4 |
(32.5) |
25.6 |
9.4 |
(5.3) |
|
|
|||||
|
Registration
of New Businesses (No.) |
26,876 |
23,978 |
23,494 |
24,788 |
22,893 |
|
Registration
of New Businesses (%) |
8.15 |
(10.78) |
2.02 |
5.51 |
1.70 |
|
Liquidation
of Businesses (No.) |
23,552 |
24,211 |
23,005 |
22,489 |
22,598 |
|
Liquidation
of Businesses (%) |
11.4 |
2.8 |
(5) |
(2.2) |
0.5 |
|
|
|||||
|
Bankruptcy
Orders (No.) |
2,058 |
1,537 |
1,527 |
1,748 |
1,992 |
|
Bankruptcy
Orders (%) |
(11.5) |
(25.3) |
(0.7) |
14.5 |
14.0 |
|
Bankruptcy
Discharges (No.) |
3,056 |
2,252 |
1,391 |
1,881 |
2,584 |
|
Bankruptcy
Discharges (%) |
103.7 |
(26.3) |
(38.2) |
35.2 |
37.4 |
|
|
|||||
|
INDUSTRIES
( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production
of Principal Crops |
3.25 |
(0.48) |
4.25 |
3.64 |
- |
|
Fish
Supply & Wholesale |
(1.93) |
(10.5) |
12.10 |
(0.5) |
- |
|
|
|||||
|
Manufacturing
* |
71.5 |
92.8 |
100.0 |
100.3 |
102.0 |
|
Food,
Beverages & Tobacco |
90.4 |
96.4 |
100.0 |
103.5 |
103.5 |
|
Textiles |
145.9 |
122.1 |
100.0 |
104.0 |
87.1 |
|
Wearing
Apparel |
211.0 |
123.3 |
100.0 |
92.1 |
77.8 |
|
Leather
Products & Footwear |
79.5 |
81.8 |
100.0 |
98.6 |
109.8 |
|
Wood
& Wood Products |
101.4 |
104.0 |
100.0 |
95.5 |
107.4 |
|
Paper
& Paper Products |
95.4 |
106.1 |
100.0 |
97.4 |
103.2 |
|
Printing
& Media |
100.9 |
103.5 |
100.0 |
93.0 |
86.1 |
|
Crude
Oil Refineries |
96.4 |
95.6 |
100.0 |
99.4 |
93.5 |
|
Chemical
& Chemical Products |
80.3 |
97.6 |
100.0 |
100.5 |
104.1 |
|
Pharmaceutical
Products |
49.1 |
75.3 |
100.0 |
109.7 |
107.2 |
|
Rubber
& Plastic Products |
101.2 |
112.3 |
100.0 |
96.5 |
92.9 |
|
Non-metallic
Mineral |
91.9 |
92.5 |
100.0 |
98.2 |
97.6 |
|
Basic
Metals |
92.6 |
102.2 |
100.0 |
90.6 |
76.5 |
|
Fabricated
Metal Products |
90.8 |
103.6 |
100.0 |
104.3 |
105.1 |
|
Machinery
& Equipment |
57.3 |
78.5 |
100.0 |
112.9 |
114.5 |
|
Electrical
Machinery |
86.8 |
124.1 |
100.0 |
99.3 |
108.5 |
|
Electronic
Components |
85.2 |
113.6 |
100.0 |
90.6 |
94.3 |
|
Transport
Equipment |
96.0 |
94.0 |
100.0 |
106.3 |
107.5 |
|
|
|||||
|
Construction |
(36.9) |
14.20 |
20.50 |
28.70 |
- |
|
Real
Estate |
1.4 |
21.3 |
25.4 |
31.9 |
- |
|
|
|||||
|
Services |
|||||
|
Electricity,
Gas & Water |
1.70 |
4.00 |
7.00 |
6.30 |
- |
|
Transport,
Storage & Communication |
3.90 |
12.80 |
7.40 |
5.30 |
- |
|
Finance
& Insurance |
(16.4) |
(0.4) |
8.90 |
0.50 |
- |
|
Government
Services |
4.50 |
9.70 |
6.90 |
6.00 |
- |
|
Education
Services |
0.10 |
(0.9) |
(1.4) |
0.30 |
- |
|
|
|||||
|
* 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 |
|
PROFIT
AND LOSS ACCOUNT
|
|
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
EASTMAN
CHEMICAL LTD. |
|
Financial
Year End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
|
Months |
12 |
12 |
12 |
|
Consolidated
Account |
Company |
Company |
Company |
|
Audited
Account |
YES |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
|
Financial
Type |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
|
TURNOVER |
228,649,195 |
212,224,505 |
212,637,645 |
|
Other
Income |
2,124,897 |
2,066,675 |
1,563,900 |
|
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
230,774,092 |
214,291,180 |
214,201,545 |
|
Costs
of Goods Sold |
(209,511,100) |
(195,202,805) |
(195,112,349) |
|
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
21,262,992 |
19,088,375 |
19,089,196 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
11,276,522 |
13,032,653 |
9,308,038 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
11,276,522 |
13,032,653 |
9,308,038 |
|
Taxation |
(2,008,682) |
(1,983,765) |
(1,558,974) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
9,267,840 |
11,048,888 |
7,749,064 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As
previously reported |
11,049,287 |
7,740,852 |
7,994,671 |
|
---------------- |
---------------- |
---------------- |
|
|
As
restated |
11,049,287 |
7,740,852 |
7,994,671 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
20,317,127 |
18,789,740 |
15,743,735 |
|
TRANSFER
TO RESERVES - General |
(15,078,817) |
(7,740,453) |
(8,002,883) |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
5,238,310 |
11,049,287 |
7,740,852 |
|
============= |
============= |
============= |
|
BALANCE
SHEET
|
|
EASTMAN CHEMICAL LTD. |
|
ASSETS
EMPLOYED: |
|||
|
FIXED
ASSETS |
45,052 |
23,685 |
43,352 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
45,052 |
23,685 |
43,352 |
|
Stocks |
4,144,040 |
5,602,040 |
5,155,741 |
|
Trade
debtors |
34,281,628 |
27,410,341 |
24,410,404 |
|
Amount
due from related companies |
3,536,030 |
8,683,643 |
41,003,909 |
|
Cash
& bank balances |
1,969 |
28,185 |
55,510 |
|
Others |
19,973 |
18,386 |
17,809 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
41,983,640 |
41,742,595 |
70,643,373 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
42,028,692 |
41,766,280 |
70,686,725 |
|
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||
|
Trade
creditors |
935,143 |
314,611 |
240,485 |
|
Other
creditors & accruals |
900,045 |
1,637,942 |
707,376 |
|
Amounts
owing to holding company |
20,634,090 |
15,584,841 |
58,888,530 |
|
Amounts
owing to related companies |
12,407,548 |
11,161,929 |
1,538,352 |
|
Provision
for taxation |
1,913,556 |
2,017,670 |
1,571,130 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
36,790,382 |
30,716,993 |
62,945,873 |
|
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
5,193,258 |
11,025,602 |
7,697,500 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
5,238,310 |
11,049,287 |
7,740,852 |
|
============= |
============= |
============= |
|
|
HEAD
OFFICE ACCOUNT |
5,238,310 |
11,049,287 |
7,740,852 |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
5,238,310 |
11,049,287 |
7,740,852 |
|
---------------- |
---------------- |
---------------- |
|
|
5,238,310 |
11,049,287 |
7,740,852 |
|
|
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
|
EASTMAN CHEMICAL LTD. |
|
TYPES
OF FUNDS |
|||
|
Cash |
1,969 |
28,185 |
55,510 |
|
Net
Liquid Funds |
1,969 |
28,185 |
55,510 |
|
Net
Liquid Assets |
1,049,218 |
5,423,562 |
2,541,759 |
|
Net
Current Assets/(Liabilities) |
5,193,258 |
11,025,602 |
7,697,500 |
|
Net
Tangible Assets |
5,238,310 |
11,049,287 |
7,740,852 |
|
Net
Monetary Assets |
1,049,218 |
5,423,562 |
2,541,759 |
|
BALANCE
SHEET ITEMS |
|||
|
Total
Borrowings |
0 |
0 |
0 |
|
Total
Liabilities |
36,790,382 |
30,716,993 |
62,945,873 |
|
Total
Assets |
42,028,692 |
41,766,280 |
70,686,725 |
|
Net
Assets |
5,238,310 |
11,049,287 |
7,740,852 |
|
Net
Assets Backing |
5,238,310 |
11,049,287 |
7,740,852 |
|
Shareholders'
Funds |
5,238,310 |
11,049,287 |
7,740,852 |
|
Total
Share Capital |
0 |
0 |
0 |
|
Total
Reserves |
0 |
0 |
0 |
|
LIQUIDITY
(Times) |
|||
|
Cash
Ratio |
0.00 |
0.00 |
0.00 |
|
Liquid
Ratio |
1.03 |
1.18 |
1.04 |
|
Current
Ratio |
1.14 |
1.36 |
1.12 |
|
WORKING
CAPITAL CONTROL (Days) |
|||
|
Stock
Ratio |
7 |
10 |
9 |
|
Debtors
Ratio |
55 |
47 |
42 |
|
Creditors
Ratio |
2 |
1 |
0 |
|
SOLVENCY
RATIOS (Times) |
|||
|
Gearing
Ratio |
0.00 |
0.00 |
0.00 |
|
Liabilities
Ratio |
7.02 |
2.78 |
8.13 |
|
Times
Interest Earned Ratio |
0.00 |
0.00 |
0.00 |
|
Assets
Backing Ratio |
- |
- |
- |
|
PERFORMANCE
RATIO (%) |
|||
|
Operating
Profit Margin |
4.93 |
6.14 |
4.38 |
|
Net
Profit Margin |
4.05 |
5.21 |
3.64 |
|
Return
On Net Assets |
215.27 |
117.95 |
120.25 |
|
Return
On Capital Employed |
215.27 |
117.95 |
120.25 |
|
Return
On Shareholders' Funds/Equity |
176.92 |
100.00 |
100.11 |
|
Dividend
Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
|
NOTES
TO ACCOUNTS |
|||
|
Contingent
Liabilities |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.89 |
|
|
1 |
Rs.100.39 |
|
Euro |
1 |
Rs.73.52 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.