|
Report No. : |
346274 |
|
Report Date : |
26.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
INFLOW TECHNOLOGIES (SINGAPORE) PTE. LTD. |
|
|
|
|
Registered Office : |
1003, Bukit Merah Central, 06-46, 159836 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation : |
12.07.2006 |
|
|
|
|
Com. Reg. No.: |
200610237-C |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Retail sale of computer hardware & accessories & computer software |
|
|
|
|
No. of Employees : |
2 [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 : |
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. |
: |
200610237-C |
|
COMPANY NAME |
: |
INFLOW TECHNOLOGIES
(SINGAPORE) PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
12/07/2006 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
1003, BUKIT MERAH CENTRAL, 06-46, 159836,
SINGAPORE. |
|
BUSINESS ADDRESS |
: |
1003, BUKIT MERAH CENTRAL, 06-46,
TECHNOPRENEUR CENTRE, 339341, SINGAPORE. |
|
TEL.NO. |
: |
65-62700860 |
|
FAX.NO. |
: |
65-62739300 |
|
CONTACT PERSON |
: |
BYJU PILLAI ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
RETAIL SALE OF COMPUTER HARDWARE &
ACCESSORIES & COMPUTER SOFTWARE |
|
ISSUED AND PAID UP CAPITAL |
: |
100.00 ORDINARY SHARE, OF A VALUE OF SGD
100.00 |
|
SALES |
: |
USD 27,310,891 [2015] |
|
NET WORTH |
: |
USD 790,320 [2015] |
|
STAFF STRENGTH |
: |
2 [2015] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
FAIR |
|
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) retail sale of computer hardware & accessories & computer software.
Share Capital
History
|
Date |
Issue & Paid
Up Capital |
|
22/10/2015 |
SGD 100.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
INFLOW TECHNOLOGIES PRIVATE LIMITED |
34 & 34, INFLOW HOUSE, INDIRA NAGAR,
OFF 100, FEET ROAD, BANGALORE, 1ST STAGE, 560038, INDIA. |
T06UF1900 |
100.00 |
100.00 |
|
--------------- |
------ |
|||
|
100.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
Status |
(%) |
As At |
|
200902717N |
SINGAPORE |
ENSICOMM SOLUTIONS (SINGAPORE) PTE. LTD. |
- |
100.00 |
22/10/2015 |
DIRECTOR
1
|
Name Of Subject |
: |
BYJU PILLAI |
|
Address |
: |
217, TRINITY MEADOWS, OFF SARJAPURA ROAD
BELLANDUR, BANGALORE 560 03, INDIA. |
|
IC / PP No |
: |
Z1560288 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
12/07/2006 |
DIRECTOR
2
|
Name Of Subject |
: |
AMBIKAPATHY MOHANDOSS |
|
Address |
: |
8B, BOON TIONG ROAD, 01-69 , BOON TIONG
ARCADIA, 165008, MALAYSIA. |
|
IC / PP No |
: |
G6221161Q |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
01/02/2015 |
|
1) |
Name of Subject |
: |
BYJU PILLAI |
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
PRUDENTIAL PUBLIC ACCOUNTING CORPORATION |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
CHUA SIEW CHER |
|
IC / PP No |
: |
S7122665D |
|
|
Address |
: |
126, HOUGANG AVENUE 1, 07-1520, 530126, 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 against 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 |
: |
YES |
|
Overseas |
: |
YES |
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 |
[ |
] |
|||||||||
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Goods Traded |
: |
COMPUTER HARDWARE & ACCESSORIES & COMPUTER SOFTWARE |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2015 |
2014 |
|||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
2 |
2 |
|||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) retail sale of
computer hardware & accessories & computer software.
The Subject refused to disclose its operation.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62700860 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
1003 BUKIT MERAH CENTRAL 06-46 TECHNOPRENEUR CENTRE,339341,SINGAPORE |
|
Current Address |
: |
1003, BUKIT MERAH CENTRAL, 06-46, TECHNOPRENEUR CENTRE, 339341, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject
and she provided some information.
The Subject refused to disclose its bankers.
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
160.09% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
117.86% |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
22.56% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
6.43% |
] |
|
|
The increase in turnover could be due to
the Subject adopting an aggressive marketing strategy. The higher profit could
be attributed to the increase in turnover. The Subject's management had
generated acceptable return for its shareholders using its assets. |
||||||
|
Working Capital
Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
37 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
82 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
80 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding cost. This
had reduced funds being tied up in stocks. The high debtors' ratio could
indicate that the Subject was weak in its credit control. However, the
Subject could also giving longer credit periods to its customers in order to
boost its sales or to capture / retain its market share. The unfavourable
creditors' ratio could be due to the Subject taking advantage of the credit
granted by its suppliers. However this may affect the goodwill between the
Subject and its suppliers and the Subject may inadvertently have to pay more
for its future supplies. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
1.07 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.47 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 |
: |
Acceptable |
[ |
7.65 Times |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
3.71 Times |
] |
|
|
The Subject's interest cover was slightly low. If there is no sharp
fall in its profit or sudden increase in the interest rates, we believe the
Subject is able to generate sufficient income to service its interest and
repay the loans. The Subject was highly geared, thus it had a high financial
risk. The Subject was dependent on loans to finance its business needs. In
times of economic downturn and / or high interest rate, the Subject will
become less profitable and competitive than other firms in the same industry,
which are lowly geared. This is because the Subject has to service the
interest and to repay the loan, which will erode part of its profits. The
profits will fluctuate depending on the Subject's turnover and the interest
it needs to pay. |
||||||
|
Overall
Assessment : |
||||||
|
Generally, the Subject's performance has improved with higher turnover
and profit. 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 had an acceptable interest cover. If there is no sudden sharp
increase in interest rate or fall in the Subject's profit, we do believe the
Subject is able to generate sufficient cash flow to service its interest
payment. The Subject's gearing level was high and its going concern will be
in doubt if there is no injection of additional shareholders' funds in times
of economic downturn and / or high interest rates. |
||||||
|
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 2006, the Subject is a Private Limited company, focusing on retail sale of computer hardware & accessories & computer software. Having been in business for more than 5 years, the Subject has established a remarkable clientele base for itself which has contributed to its business growth. Presently, the issued and paid up capital of the Subject stands at SGD 100. However, with a strong backing from its shareholder, the Subject enjoys timely financial assistance should the needs arise.
Investigation revealed, the Subject has penetrated into both the local and
overseas market. The Subject has positioned itself in the global market and is
competing in the industry. Its stable clientele base will enable the Subject to
further enhance its business in the near term. Being a small company, the
Subject's business operation is supported by 2 employees. Overall, we regard
that the Subject's management capability is average. This indicates that the
Subject has greater potential to improve its business performance and raising
income for the Subject.
We noted that both the turnover and profits have increased compared to the
previous year. The higher profit could be due to increase in turnover and
better control over its operating costs. Based on the higher profitability, the
Subject has generated a favourable return based on its existing shareholders'
funds which indicated that the management was efficient in utilising its funds
to generate income. The Subject is in good liquidity position with its current liabilities
well covered by it current assets. Hence, it has sufficient working capital to
meet its short term financial obligations. The high gearing ratio clearly
implied that the Subject was supported by more debt than equity. Thus, the
Subject is exposed to high financial risk.
The Subject's supplier are from both the local and overseas countries. This
will eliminates the risk of dependency on deliveries from a number of key
suppliers and insufficient quantities of its raw materials. Overall the Subject
has a good control over its resources.
The Subject's payment habit is average. With its adequate working capital, the
Subject should be able to pay its short term debts.
The industry shows an upward trend and this trend is very likely to sustain in
the near terms. Hence, the Subject is expected to benefit from the favourable
outlook of the industry.
Based on the above condition, we recommend credit be granted to the Subject
normally.
|
THE FINANCIAL STATEMENTS
WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
INFLOW
TECHNOLOGIES (SINGAPORE) PTE. LTD. |
|
Financial Year End |
2015-03-31 |
2014-03-31 |
2013-03-31 |
2012-03-31 |
2011-03-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
SUMMARY |
|
Currency |
USD |
USD |
USD |
USD |
SGD |
|
TURNOVER |
27,310,891 |
10,500,444 |
9,523,980 |
8,302,664 |
11,561,724 |
|
Other Income |
11,880 |
10,038 |
17,037 |
10,687 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
27,322,771 |
10,510,482 |
9,541,017 |
8,313,351 |
11,561,724 |
|
Costs of Goods Sold |
(26,420,162) |
(10,058,914) |
(9,191,283) |
(7,843,001) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
902,609 |
451,568 |
349,734 |
470,350 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
204,948 |
94,075 |
104,421 |
256,588 |
(632,168) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
204,948 |
94,075 |
104,421 |
256,588 |
(632,168) |
|
Taxation |
(26,668) |
(16,700) |
(17,000) |
(34,135) |
107,078 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
178,280 |
77,375 |
87,421 |
222,453 |
(525,090) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
611,974 |
534,599 |
447,176 |
224,723 |
284,370 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
611,974 |
534,599 |
447,176 |
224,723 |
284,370 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
790,254 |
611,974 |
534,597 |
447,176 |
284,370 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
790,254 |
611,974 |
534,597 |
447,176 |
284,370 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE
(as per notes to P&L) |
|||||
|
Loan from holding company |
- |
- |
30,518 |
30,918 |
- |
|
Term loan / Borrowing |
30,827 |
30,331 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
30,827 |
30,331 |
30,518 |
30,918 |
- |
|
|
============= |
============= |
============= |
============= |
- |
|
|
DEPRECIATION (as per notes to P&L) |
1,346 |
1,560 |
1,400 |
1,403 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,346 |
1,560 |
1,400 |
1,403 |
- |
|
|
============= |
============= |
============= |
============= |
|
INFLOW
TECHNOLOGIES (SINGAPORE) PTE. LTD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
1,214 |
2,560 |
3,100 |
4,500 |
115,038 |
|
Deferred assets |
- |
7,300 |
24,000 |
41,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
- |
7,300 |
24,000 |
41,000 |
- |
|
Goodwill on consolidation |
449,249 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
449,249 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
450,463 |
9,860 |
27,100 |
45,500 |
115,038 |
|
Stocks |
2,758,466 |
804,867 |
78,006 |
1,541 |
- |
|
Trade debtors |
6,166,636 |
2,658,493 |
893,567 |
783,441 |
- |
|
Other debtors, deposits & prepayments |
461,737 |
30,490 |
2,925,278 |
2,213,875 |
- |
|
Amount due from holding company |
581,382 |
1,285,545 |
- |
- |
- |
|
Amount due from related companies |
- |
1,024,239 |
- |
- |
- |
|
Cash & bank balances |
91,299 |
72,481 |
55,507 |
509,957 |
- |
|
Amount owing by customer |
- |
1,000,000 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
10,059,520 |
6,876,115 |
3,952,358 |
3,508,814 |
4,349,599 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
10,509,983 |
6,885,975 |
3,979,458 |
3,554,314 |
4,464,637 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade creditors |
5,813,576 |
3,051,598 |
626,810 |
279,686 |
- |
|
Other creditors & accruals |
450,363 |
245,150 |
55,590 |
111,808 |
- |
|
Short term borrowings/Term loans |
54,539 |
41,548 |
- |
- |
- |
|
Other borrowings |
- |
- |
517,490 |
- |
- |
|
Deposits from customers |
463,163 |
88,127 |
101,017 |
84,718 |
- |
|
Amounts owing to related companies |
50,627 |
- |
- |
- |
- |
|
Provision for taxation |
11,626 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
6,843,894 |
3,426,423 |
1,300,907 |
476,212 |
889,940 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
3,215,626 |
3,449,692 |
2,651,451 |
3,032,602 |
3,459,659 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
3,666,089 |
3,459,552 |
2,678,551 |
3,078,102 |
3,574,697 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
66 |
66 |
66 |
66 |
100 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
66 |
66 |
66 |
66 |
100 |
|
Retained profit/(loss) carried forward |
790,254 |
611,974 |
534,597 |
447,176 |
284,370 |
|
Others |
- |
- |
- |
- |
0 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
790,254 |
611,974 |
534,597 |
447,176 |
284,370 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
790,320 |
612,040 |
534,663 |
447,242 |
284,470 |
|
Long term loans |
2,875,769 |
2,847,512 |
2,143,888 |
2,630,860 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
2,875,769 |
2,847,512 |
2,143,888 |
2,630,860 |
3,290,227 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
3,666,089 |
3,459,552 |
2,678,551 |
3,078,102 |
3,574,697 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
INFLOW
TECHNOLOGIES (SINGAPORE) PTE. LTD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
91,299 |
72,481 |
55,507 |
509,957 |
- |
|
Net Liquid Funds |
91,299 |
72,481 |
55,507 |
509,957 |
- |
|
Net Liquid Assets |
457,160 |
2,644,825 |
2,573,445 |
3,031,061 |
3,459,659 |
|
Net Current Assets/(Liabilities) |
3,215,626 |
3,449,692 |
2,651,451 |
3,032,602 |
3,459,659 |
|
Net Tangible Assets |
3,216,840 |
3,459,552 |
2,678,551 |
3,078,102 |
3,574,697 |
|
Net Monetary Assets |
(2,418,609) |
(202,687) |
429,557 |
400,201 |
169,432 |
|
PROFIT &
LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
235,775 |
124,406 |
134,939 |
287,506 |
- |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
237,121 |
125,966 |
136,339 |
288,909 |
- |
|
BALANCE SHEET
ITEMS |
|||||
|
Total Borrowings |
2,930,308 |
2,889,060 |
2,661,378 |
2,630,860 |
- |
|
Total Liabilities |
9,719,663 |
6,273,935 |
3,444,795 |
3,107,072 |
4,180,167 |
|
Total Assets |
10,509,983 |
6,885,975 |
3,979,458 |
3,554,314 |
4,464,637 |
|
Net Assets |
3,666,089 |
3,459,552 |
2,678,551 |
3,078,102 |
3,574,697 |
|
Net Assets Backing |
790,320 |
612,040 |
534,663 |
447,242 |
284,470 |
|
Shareholders' Funds |
790,320 |
612,040 |
534,663 |
447,242 |
284,470 |
|
Total Share Capital |
66 |
66 |
66 |
66 |
100 |
|
Total Reserves |
790,254 |
611,974 |
534,597 |
447,176 |
284,370 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.01 |
0.02 |
0.04 |
1.07 |
- |
|
Liquid Ratio |
1.07 |
1.77 |
2.98 |
7.36 |
- |
|
Current Ratio |
1.47 |
2.01 |
3.04 |
7.37 |
4.89 |
|
WORKING CAPITAL
CONTROL (Days) |
|||||
|
Stock Ratio |
37 |
28 |
3 |
0 |
- |
|
Debtors Ratio |
82 |
92 |
34 |
34 |
- |
|
Creditors Ratio |
80 |
111 |
25 |
13 |
- |
|
SOLVENCY RATIOS
(Times) |
|||||
|
Gearing Ratio |
3.71 |
4.72 |
4.98 |
5.88 |
- |
|
Liabilities Ratio |
12.30 |
10.25 |
6.44 |
6.95 |
14.69 |
|
Times Interest Earned Ratio |
7.65 |
4.10 |
4.42 |
9.30 |
- |
|
Assets Backing Ratio |
48,740.00 |
52,417.45 |
40,584.11 |
46,637.91 |
35,746.97 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating Profit Margin |
0.75 |
0.90 |
1.10 |
3.09 |
(5.47) |
|
Net Profit Margin |
0.65 |
0.74 |
0.92 |
2.68 |
(4.54) |
|
Return On Net Assets |
6.43 |
3.60 |
5.04 |
9.34 |
(17.68) |
|
Return On Capital Employed |
5.73 |
3.60 |
5.04 |
9.34 |
(17.68) |
|
Return On Shareholders' Funds/Equity |
22.56 |
12.64 |
16.35 |
49.74 |
(184.59) |
|
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.64.88 |
|
|
1 |
Rs.99.88 |
|
Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPT |
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.