|
Report No. : |
338303 |
|
Report Date : |
05.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
KERNEOS ASIA PACIFIC PTE. LTD. |
|
|
|
|
Formerly Known As : |
LAFARGE ALUMINATES ASIA PACIFIC PTE LTD (13/07/2006) |
|
|
|
|
Registered Office : |
230, Orchard Road, 09- 236, Faber House, 238854 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
31.01.1996 |
|
|
|
|
Com. Reg. No.: |
199600769-C |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading Of Calcium Aluminate Cements And Finished Products. |
|
|
|
|
No. of Employees : |
6 [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 Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
EXECUTIVE
SUMMARY
|
|
REGISTRATION NO. |
: |
199600769-C |
|
COMPANY NAME |
: |
KERNEOS ASIA
PACIFIC PTE. LTD. |
|
FORMER NAME |
: |
LAFARGE ALUMINATES ASIA PACIFIC PTE LTD
(13/07/2006) |
|
INCORPORATION DATE |
: |
31/01/1996 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
230, ORCHARD ROAD, 09- 236, FABER HOUSE,
238854, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
230, ORCHARD ROAD, 09- 236, FABER HOUSE,
238854, SINGAPORE. |
|
TEL.NO. |
: |
65-68394270 |
|
FAX.NO. |
: |
65-67348516 |
|
CONTACT PERSON |
: |
PIERRE-ANTOINE, RENE, GERARD GUILLON (
DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
TRADING OF CALCIUM ALUMINATE CEMENTS AND
FINISHED PRODUCTS. |
|
ISSUED AND PAID UP CAPITAL |
: |
1,550,000.00 ORDINARY SHARE, OF A VALUE OF
SGD 1,550,000.00 |
|
SALES |
: |
USD 30,970,181 [2014] |
|
NET WORTH |
: |
USD 3,396,991 [2014] |
|
STAFF STRENGTH |
: |
6 [2015] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STRONG |
|
PAYMENT |
: |
PROMPT |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
HISTORY
/ BACKGROUND
|
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 calcium aluminate cements and finished products.
The immediate holding company of the Subject is KERNEOS, a company incorporated in FRANCE.
Share Capital
History
|
Date |
Issue & Paid
Up Capital |
|
26/08/2015 |
SGD 2,365,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
KERNEOS |
IMMEUBLE PACIFIC, 11 COURS VALMY, PARIS LA
DEFENSE, 92800 PUTEAUX, FRANCE. |
T09UF1299 |
2,365,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
2,365,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR
1
|
Name Of Subject |
: |
JEAN-MARC VINCENT BIANCHI |
|
Address |
: |
LES BRUYERES, 21, RUE DE VINDE, 78170 LA
CELLE SAINT CLOUD, FRANCE. |
|
IC / PP No |
: |
03XY27518 |
|
Nationality |
: |
FRENCH |
|
Date of Appointment |
: |
03/12/2001 |
DIRECTOR 2
|
Name Of Subject |
: |
CHEN SIN FOOK |
|
Address |
: |
619, CHOA CHU KANG NORTH 7, 05-403,
680619, SINGAPORE. |
|
IC / PP No |
: |
S1777177I |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
15/04/2002 |
DIRECTOR 3
|
Name Of Subject |
: |
PIERRE-ANTOINE, RENE, GERARD GUILLON |
|
Address |
: |
FUJIMI DUPLEX, 802, FUJIMI 2-15-8
CHIYODA-KU, TOKYO 102 0071, KOREA. |
|
IC / PP No |
: |
06AL76504 |
|
Nationality |
: |
FRENCH |
|
Date of Appointment |
: |
02/02/2011 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
PIERRE-ANTOINE, RENE, GERARD GUILLON |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
UHY LEE SENG CHAN & CO. |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
LEE HWANG YANN |
|
IC / PP No |
: |
S7248093G |
|
|
Address |
: |
111, CLEMENTI STREET 13, 02-32, 120111, SINGAPORE. |
|
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 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.
PAYMENT
RECORD
|
|
||
|
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 |
[ |
X |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
CALCIUM ALUMINATE CEMENTS AND FINISHED
PRODUCTS. |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2015 |
2014 |
|||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
6 |
6 |
|||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of calcium aluminate
cements and finished products..
The Subject sells calcium aluminate cements.
The Subject also provides end use products for the rehabilitation of waste
water infrastructure and for the rehabilitation or original installation of
severe duty concretes.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
6568394278 |
|
Current Telephone Number |
: |
65-68394270 |
|
Match |
: |
NO |
|
Address Provided by Client |
: |
230 ORCHARD ROAD 09- 236 FABER HOUSE,238854,SINGAPORE |
|
Current Address |
: |
230, ORCHARD ROAD, 09- 236, FABER HOUSE, 238854, SINGAPORE. |
|
Match |
: |
NO |
Other
Investigations
We contacted one of the staff from the Subject and she provided some
information.
The address provided is incomplete.
The Subject refused to disclose its bankers.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2010 - 2014 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2010 - 2014 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
26.12% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
24.67% |
] |
|
|
The Subject's turnover increased steadily as the demand for its
products / services increased due to the goodwill built up over the years.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 |
[ |
6 Days |
] |
|
|
Debtor Ratio |
: |
Acceptable |
[ |
60 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 Subject's management was
quite efficient in handling its debtors. The Subject's debtors days were at an
acceptable range, thus the risk of its debts turning bad was minimised. 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 |
[ |
1.80 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.91 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 : |
||||||
|
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 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
ANALYSIS
|
|
INDUSTRY : |
TRADING |
|
The wholesale and retail trade sectors have expanded by 2.0% in the
third quarter of 2014, extending the 1.8 per cent growth in the previous
quarter. In 2013, the wholesale and retail sector expanded by 5.0%, after declining
by 1.4% the year before. Growth of the sector was driven by the wholesale
trade segment. |
|
|
The domestic wholesale trade index has increased by 3.2% in the fourth
quarter of 2013, moderating from the 6.6% growth in the previous quarter. The
slower growth was due to a decline in the sales of furniture and household
equipment (-12%) and petroleum and petroleum products (-0.6%). For the full
year, the domestic wholesale trade index grew by 5.2% reversing the 2.2%
decline in 2012. On the other hand, the foreign wholesale trade index has
increased by a slower pace of 5.6% in the fourth quarter, compared to the
7.7% expansion in the preceding quarter. The slowdown was due to a fall in
the sales of telecommunication equipment and computer (-3.8%) and petroleum
and petroleum products (-2.5%). For the full year, the growth of the foreign
wholesale trade index moderated slightly to 8.6% from 9.1% in the previous
year. |
|
|
In the fourth quarter of 2013, retail sales volume fell by 6.2%,
extending the 5.6% decline in the previous quarter. Excluding motor vehicles,
retail sales volume increased by 0.4%, a slower pace of expansion as compared
to the 1.6% gain in the preceding quarter. The sales volume of motor vehicles
fell by 33% in the fourth quarter of 2013, extending the 32% decline in the
previous quarter. Meanwhile, the sales of several discretionary items also
fell in the fourth quarter of 2013. For instance, the sales of
telecommunications apparatus and computers fell by 12%, while the sales of furniture
and household equipment declined by 5.4%. |
|
|
For the full year, retail sales volume contracted by 4.3%, a reversal
from the 1.3% expansion in 2012. Excluding motor vehicle sales, the retail sales
volume grew by 1.1% in 2013, slower than the 1.7% increase in 2012. Watches
and jewellery recorded the largest increase (11%) in sales in 2013, followed
by optical goods and book (3%) and medical goods and toiletries (3%). By
contrast, the sales of telecommunications apparatus and computer (-7.3%),
furniture and household equipment (-4.2%) and petrol service stations (-1.4)
declined in 2013. |
|
|
OVERALL INDUSTRY
OUTLOOK : AVERAGE GROWTH |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
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. We regard that the Subject's overall payment
habit is prompt. The Subject had a favourable creditors' ratio as evidenced
by its favourable collection days. 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 promptly. |
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
KERNEOS 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 |
Company |
Company |
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 |
30,970,181 |
30,289,605 |
29,855,717 |
36,078,372 |
37,018,546 |
|
Other Income |
308,885 |
38,104 |
156,634 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
31,279,066 |
30,327,709 |
30,012,351 |
36,078,372 |
37,018,546 |
|
Costs of Goods Sold |
(28,000,003) |
(27,764,432) |
(26,631,822) |
(33,098,110) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
3,279,063 |
2,563,277 |
3,380,529 |
2,980,262 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
990,105 |
527,300 |
971,271 |
1,381,232 |
2,304,030 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
990,105 |
527,300 |
971,271 |
1,381,232 |
2,304,030 |
|
Taxation |
(102,670) |
(59,488) |
(85,705) |
(176,724) |
(290,006) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
887,435 |
467,812 |
885,566 |
1,204,508 |
2,014,024 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
2,700,114 |
2,232,302 |
4,079,551 |
4,655,696 |
2,716,039 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
2,700,114 |
2,232,302 |
4,079,551 |
4,655,696 |
2,716,039 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
3,587,549 |
2,700,114 |
4,965,117 |
5,860,204 |
4,730,064 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(1,141,392) |
- |
(2,732,815) |
(1,780,653) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
2,446,157 |
2,700,114 |
2,232,302 |
4,079,551 |
4,730,064 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE
(as per notes to P&L) |
|||||
|
DEPRECIATION (as per notes to P&L) |
2,150 |
4,936 |
4,635 |
4,359 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
2,150 |
4,936 |
4,635 |
4,359 |
- |
|
|
============= |
============= |
============= |
============= |
BALANCE
SHEET
|
|
KERNEOS ASIA
PACIFIC PTE. LTD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
1,444 |
3,594 |
8,530 |
8,443 |
12,153 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
1,444 |
3,594 |
8,530 |
8,443 |
12,153 |
|
Stocks |
499,785 |
407,182 |
449,320 |
503,565 |
- |
|
Trade debtors |
5,130,312 |
5,118,626 |
4,163,145 |
5,499,912 |
- |
|
Other debtors, deposits & prepayments |
1,494,743 |
83,319 |
88,729 |
223,818 |
- |
|
Amount due from holding company |
- |
668,270 |
- |
3,119,384 |
- |
|
Amount due from related companies |
- |
73,213 |
- |
84,815 |
- |
|
Cash & bank balances |
1,276,831 |
1,503,114 |
611,286 |
1,703,311 |
- |
|
Others |
- |
- |
153,213 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
8,401,671 |
7,853,724 |
5,465,693 |
11,134,805 |
10,474,070 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
8,403,115 |
7,857,318 |
5,474,223 |
11,143,248 |
10,486,223 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade creditors |
181,809 |
264,162 |
240,641 |
405,560 |
- |
|
Other creditors & accruals |
905,977 |
874,187 |
912,604 |
819,743 |
- |
|
Deposits from customers |
102,078 |
- |
- |
- |
- |
|
Amounts owing to holding company |
3,047,224 |
2,314,744 |
162,858 |
3,873,693 |
- |
|
Amounts owing to related companies |
23,637 |
9,875 |
167,670 |
146,703 |
- |
|
Provision for taxation |
129,200 |
97,964 |
139,875 |
238,952 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
4,389,925 |
3,560,932 |
1,623,648 |
5,484,651 |
2,591,674 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
4,011,746 |
4,292,792 |
3,842,045 |
5,650,154 |
7,882,396 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
4,013,190 |
4,296,386 |
3,850,575 |
5,658,597 |
7,894,548 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
950,834 |
950,834 |
950,834 |
950,834 |
2,365,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
950,834 |
950,834 |
950,834 |
950,834 |
2,365,000 |
|
Retained profit/(loss) carried forward |
2,446,157 |
2,700,114 |
2,232,302 |
4,079,551 |
4,730,064 |
|
Others |
- |
- |
- |
- |
0 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
2,446,157 |
2,700,114 |
2,232,302 |
4,079,551 |
4,730,064 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
3,396,991 |
3,650,948 |
3,183,136 |
5,030,385 |
7,095,064 |
|
Others |
616,199 |
645,438 |
667,439 |
628,212 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
616,199 |
645,438 |
667,439 |
628,212 |
799,485 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
4,013,190 |
4,296,386 |
3,850,575 |
5,658,597 |
7,894,548 |
|
|
============= |
============= |
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
|
KERNEOS ASIA
PACIFIC PTE. LTD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
1,276,831 |
1,503,114 |
611,286 |
1,703,311 |
- |
|
Net Liquid Funds |
1,276,831 |
1,503,114 |
611,286 |
1,703,311 |
- |
|
Net Liquid Assets |
3,511,961 |
3,885,610 |
3,392,725 |
5,146,589 |
7,882,396 |
|
Net Current Assets/(Liabilities) |
4,011,746 |
4,292,792 |
3,842,045 |
5,650,154 |
7,882,396 |
|
Net Tangible Assets |
4,013,190 |
4,296,386 |
3,850,575 |
5,658,597 |
7,894,548 |
|
Net Monetary Assets |
2,895,762 |
3,240,172 |
2,725,286 |
4,518,377 |
7,082,911 |
|
PROFIT &
LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
990,105 |
527,300 |
971,271 |
1,381,232 |
- |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
992,255 |
532,236 |
975,906 |
1,385,591 |
- |
|
BALANCE SHEET
ITEMS |
|||||
|
Total Borrowings |
0 |
0 |
0 |
0 |
- |
|
Total Liabilities |
5,006,124 |
4,206,370 |
2,291,087 |
6,112,863 |
3,391,159 |
|
Total Assets |
8,403,115 |
7,857,318 |
5,474,223 |
11,143,248 |
10,486,223 |
|
Net Assets |
4,013,190 |
4,296,386 |
3,850,575 |
5,658,597 |
7,894,549 |
|
Net Assets Backing |
3,396,991 |
3,650,948 |
3,183,136 |
5,030,385 |
7,095,064 |
|
Shareholders' Funds |
3,396,991 |
3,650,948 |
3,183,136 |
5,030,385 |
7,095,064 |
|
Total Share Capital |
950,834 |
950,834 |
950,834 |
950,834 |
2,365,000 |
|
Total Reserves |
2,446,157 |
2,700,114 |
2,232,302 |
4,079,551 |
4,730,064 |
|
LIQUIDITY
(Times) |
|||||
|
Cash Ratio |
0.29 |
0.42 |
0.38 |
0.31 |
- |
|
Liquid Ratio |
1.80 |
2.09 |
3.09 |
1.94 |
- |
|
Current Ratio |
1.91 |
2.21 |
3.37 |
2.03 |
4.04 |
|
WORKING CAPITAL
CONTROL (Days) |
|||||
|
Stock Ratio |
6 |
5 |
5 |
5 |
- |
|
Debtors Ratio |
60 |
62 |
51 |
56 |
- |
|
Creditors Ratio |
2 |
3 |
3 |
4 |
- |
|
SOLVENCY RATIOS
(Times) |
|||||
|
Gearing Ratio |
0 |
0 |
0 |
0 |
- |
|
Liabilities Ratio |
1.47 |
1.15 |
0.72 |
1.22 |
0.48 |
|
Times Interest Earned Ratio |
0 |
0 |
0 |
0 |
- |
|
Assets Backing Ratio |
4.22 |
4.52 |
4.05 |
5.95 |
3.34 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating Profit Margin |
3.20 |
1.74 |
3.25 |
3.83 |
6.22 |
|
Net Profit Margin |
2.87 |
1.54 |
2.97 |
3.34 |
5.44 |
|
Return On Net Assets |
24.67 |
12.27 |
25.22 |
24.41 |
29.19 |
|
Return On Capital Employed |
24.67 |
12.27 |
25.22 |
24.41 |
29.19 |
|
Return On Shareholders' Funds/Equity |
26.12 |
12.81 |
27.82 |
23.94 |
28.39 |
|
Dividend Pay Out Ratio (Times) |
1.29 |
0 |
3.09 |
1.48 |
- |
|
NOTES TO
ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 66.40 |
|
|
1 |
Rs. 101.19 |
|
Euro |
1 |
Rs. 73.89 |
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.