|
Report No. : |
339419 |
|
Report Date : |
08.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
MOSCA ASIA PTE. LTD. |
|
|
|
|
Registered Office : |
28, Genting Lane, 08-02, Platinum 28, 349585 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
19.02.1997 |
|
|
|
|
Com. Reg. No.: |
199701091-K |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Wholesale of Machinery and Equipment. |
|
|
|
|
No. of Employees : |
10 [2015] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
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. |
: |
199701091-K |
|
COMPANY
NAME |
: |
MOSCA
ASIA PTE. LTD. |
|
FORMER
NAME |
: |
N/A |
|
INCORPORATION
DATE |
: |
19/02/1997 |
|
COMPANY
STATUS |
: |
EXIST |
|
LEGAL
FORM |
: |
PRIVATE
LIMITED |
|
LISTED
STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
28,
GENTING LANE, 08-02, PLATINUM 28, 349585, SINGAPORE. |
|
BUSINESS
ADDRESS |
: |
28,
GENTING LANE, 08-02, PLATINUM 28, 349585, SINGAPORE. |
|
TEL.NO. |
: |
65-65097908 |
|
FAX.NO. |
: |
65-66365711 |
|
CONTACT
PERSON |
: |
WITOLD
VALENTIN OLEG ALEXANDER NOWAK ( MANAGING DIRECTOR ) |
|
PRINCIPAL
ACTIVITY |
: |
WHOLESALE
OF MACHINERY & EQUIPMENT |
|
ISSUED
AND PAID UP CAPITAL |
: |
200,000.00
ORDINARY SHARE, OF A VALUE OF SGD 200,000.00 |
|
SALES |
: |
SGD
8,062,836 [2014] |
|
NET
WORTH |
: |
SGD
(1,288,269) [2014] |
|
STAFF
STRENGTH |
: |
10
[2015] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL
CONDITION |
: |
POOR |
|
PAYMENT |
: |
POOR |
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL
RISK |
: |
N/A |
|
CURRENCY
EXPOSURE |
: |
N/A |
|
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) wholesale of machinery
& equipment.
Share
Capital History
|
Date |
Issue
& Paid Up Capital |
|
04/09/2015 |
SGD
200,000.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
MOSCA
GMBH |
GERD-MOSCA-STRASSE
1, 69429, WALDBRUNN, GERMANY. |
T10UF3872 |
200,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
200,000.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
The
Subject's interest in other companies (Subsidiaries/Associates) are shown as
follow :
|
Local
No |
Country |
Company |
(%) |
As
At |
|
CHINA |
MOSCA
SHANGHAI CO., LTD |
90.00 |
31/12/2011 |
|
DIRECTORS
|
DIRECTOR
1
|
Name
Of Subject |
: |
WITOLD
VALENTIN OLEG ALEXANDER NOWAK |
|
Address |
: |
GELBE
HEIDE 10, ERBACH, 64711, GERMANY. |
|
IC
/ PP No |
: |
C8WH8VX5T |
|
Nationality |
: |
GERMAN |
|
Date
of Appointment |
: |
23/06/2010 |
DIRECTOR
2
|
Name
Of Subject |
: |
TIMO
GERD MOSCA |
|
Address |
: |
MOZARTSTRABE
5, ELZTAL-NECKARBURKEN, 74834, GERMANY. |
|
IC
/ PP No |
: |
6487008672 |
|
Nationality |
: |
GERMAN |
|
Date
of Appointment |
: |
01/05/1997 |
DIRECTOR
3
|
Name
Of Subject |
: |
PETER
SCHRECK |
|
Address |
: |
BRENTANOSTRASSE
34, HIRSCHHORN, 69434, GERMANY. |
|
IC
/ PP No |
: |
C8Y7MKH9R |
|
Nationality |
: |
GERMAN |
|
Date
of Appointment |
: |
10/03/2010 |
DIRECTOR
4
|
Name
Of Subject |
: |
BIRGITTA
HILDEGARD VON DRESKY |
|
Address |
: |
5,
BRIGHT HILL DRIVE, THOMSON VIEW CONDONIMIUM, 579594, SINGAPORE. |
|
IC
/ PP No |
: |
S2742627A |
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
10/03/2010 |
DIRECTOR
5
|
Name
Of Subject |
: |
ALFRED
STEFAN KUGLER |
|
Address |
: |
KACHELSTRASSE
39, TAUBERBISCHOFSHEIM, 97941, GERMANY. |
|
IC
/ PP No |
: |
C8N875V3J |
|
Nationality |
: |
GERMAN |
|
Date
of Appointment |
: |
15/04/2015 |
MANAGEMENT
|
|
1)
|
Name
of Subject |
: |
WITOLD
VALENTIN OLEG ALEXANDER NOWAK |
|
Position |
: |
MANAGING
DIRECTOR |
AUDITOR
|
|
Auditor |
: |
PAUL
HOOI & COMPANY |
|
Auditor'
Address |
: |
N/A |
|
COMPANY
SECRETARIES |
|
1)
|
Company
Secretary |
: |
GOH
JIE YI |
|
IC
/ PP No |
: |
S8820251A |
|
|
Address |
: |
330,
ANG MO KIO AVENUE 1, 09-1801, 560330, 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 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 |
[ |
] |
Average
61-90 Days |
[ |
] |
||||||
|
Fair
91-120 Days |
[ |
] |
Poor
>120 Days |
[ |
X |
] |
||||||||
CLIENTELE
|
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its clientele.
OPERATIONS
|
|
Goods
Traded |
: |
MACHINERY
& EQUIPMENT |
|
|
Total
Number of Employees: |
|||||||||
|
YEAR |
2015 |
2013 |
|||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
10 |
10 |
|||||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) wholesale of machinery
& equipment.
MOSCA, the leading name in strapping technology from Germany.
CURRENT INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-65097908 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
28
GENTING LANE SINGAPORE 349585 |
|
Current
Address |
: |
28,
GENTING LANE, 08-02, PLATINUM 28, 349585, SINGAPORE. |
|
Match |
: |
NO |
Other
Investigations
We contacted one of the staff from the Subject and he provided some
information.
The address provided is incomplete.
The Subject refused to disclose its bankers.
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2010
- 2014 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Decreased |
[ |
2010
- 2014 |
] |
|
|
Return
on Shareholder Funds |
: |
Unfavourable |
[ |
27.72% |
] |
|
|
Return
on Net Assets |
: |
Unfavourable |
[ |
12.68% |
] |
|
|
The
Subject's turnover increased steadily as the demand for its products / services
increased due to the goodwill built up over the years.The Subject could be
more efficient in controlling its operating costs and had managed to reduce
its losses during the year. Although the Subject's returns showed positive
figures it is not reflective of the true situation. The Subject incurred
losses during the year and its shareholders' funds have turned red. The
positive returns on shareholders' funds is the result of losses divided by
negative shareholders' funds. The Subject's management was inefficient in
utilising the assets to generate returns. |
||||||
|
Working
Capital Control |
||||||
|
Stock
Ratio |
: |
Unfavourable |
[ |
67
Days |
] |
|
|
Debtor
Ratio |
: |
Unfavourable |
[ |
158
Days |
] |
|
|
Creditors
Ratio |
: |
Unfavourable |
[ |
235
Days |
] |
|
|
The
Subject could be incurring higher holding cost. As its capital was tied up in
stocks, it could face liquidity problems. The Subject's debtors ratio was high.
The Subject should tighten its credit control and improve its collection
period. 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 |
: |
Unfavourable |
[ |
0.58
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
0.80
Times |
] |
|
|
A
low liquid ratio means that the Subject may be facing working capital
deficiency. If the Subject cannot obtain additional financing or injection of
fresh capital, it may face difficulties in meeting its short term
obligations. |
||||||
|
Solvency |
||||||
|
Interest
Cover |
: |
Unfavourable |
[ |
(0.84
Times) |
] |
|
|
Gearing
Ratio |
: |
Unfavourable |
[ |
(1.67
Times) |
] |
|
|
The
Subject incurred losses in the year. It did not generate sufficient income to
service its interest. If the situation does not improve, the Subject
may be vulnerable to default in servicing the interest. The Subject's gearing
was negative during the year as its shareholders' funds was in the red. This
means the Subject is running its business using borrowed money. We consider
the Subject as facing high financial risks. |
||||||
|
Overall
Assessment : |
||||||
|
The
higher turnover had helped to reduce the Subject's losses. Due to its weak
liquidity position, the Subject will be faced with problems in meeting all
its short term obligations if no short term loan is obtained or additional
capital injected into the Subject. The Subject's interest cover was negative,
indicating that it did not generate sufficient income to service its
interest. If its result does not show impressive improvements or succeed
obtaining short term financing or capital injection, it may not be able to
service its interest and repay the loans. The Subject has high financial
risks. If its shareholders do not inject more capital into the company or if
its business performance does not improve, its going concern may be in
question. |
||||||
|
Overall
financial condition of the Subject : POOR |
||||||
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
|
|
|
|
|
PROFIT AND
LOSS ACCOUNT
|
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
MOSCA
ASIA 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 |
SUMMARY |
FULL |
FULL |
|
Currency |
SGD |
SGD |
SGD |
SGD |
SGD |
|
TURNOVER |
8,062,836 |
7,913,118 |
7,105,391 |
3,146,690 |
3,172,162 |
|
Other
Income |
35,837 |
- |
- |
5,074 |
29,181 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
8,098,673 |
7,913,118 |
7,105,391 |
3,151,764 |
3,201,343 |
|
Costs
of Goods Sold |
(6,556,225) |
(6,250,675) |
- |
(2,271,709) |
(2,541,726) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
1,542,448 |
1,662,443 |
- |
880,055 |
659,617 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
(357,085) |
(529,171) |
53,997 |
(206,211) |
26,733 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
(357,085) |
(529,171) |
53,997 |
(206,211) |
26,733 |
|
Taxation |
- |
- |
- |
1,453 |
13,540 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
(357,085) |
(529,171) |
53,997 |
(204,758) |
40,273 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As
previously reported |
(1,131,184) |
(602,013) |
(656,010) |
(451,252) |
(491,525) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
(1,131,184) |
(602,013) |
(656,010) |
(451,252) |
(491,525) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
(1,488,269) |
(1,131,184) |
(602,013) |
(656,010) |
(451,252) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
(1,488,269) |
(1,131,184) |
(602,013) |
(656,010) |
(451,252) |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||||
|
Others |
193,749 |
164,156 |
- |
96,428 |
106,929 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
193,749 |
164,156 |
- |
96,428 |
106,929 |
|
|
============= |
============= |
- |
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
41,875 |
49,204 |
- |
26,548 |
12,855 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
41,875 |
49,204 |
- |
26,548 |
12,855 |
|
|
============= |
============= |
============= |
============= |
============= |
BALANCE
SHEET
|
|
MOSCA
ASIA PTE. LTD. |
|
ASSETS
EMPLOYED: |
|||||
|
FIXED
ASSETS |
41,417 |
67,678 |
64,082 |
64,013 |
71,614 |
|
LONG
TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Subsidiary
companies |
- |
- |
- |
271,257 |
271,259 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
- |
- |
- |
271,257 |
271,259 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
41,417 |
67,678 |
64,082 |
335,270 |
342,873 |
|
Stocks |
1,483,523 |
2,136,687 |
- |
2,567,603 |
700,591 |
|
Trade
debtors |
3,489,270 |
3,806,426 |
- |
1,990,164 |
2,661,407 |
|
Other
debtors, deposits & prepayments |
77,673 |
58,063 |
- |
56,715 |
33,608 |
|
Cash
& bank balances |
176,737 |
193,932 |
- |
297,399 |
222,785 |
|
Others |
207,810 |
212,939 |
- |
329,177 |
406,297 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
5,435,013 |
6,408,047 |
5,735,860 |
5,241,058 |
4,024,688 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
5,476,430 |
6,475,725 |
5,799,942 |
5,576,328 |
4,367,561 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade
creditors |
4,216,518 |
4,741,238 |
- |
2,484,931 |
2,344,847 |
|
Other
creditors & accruals |
34,220 |
32,757 |
- |
22,150 |
12,799 |
|
Other
borrowings |
2,150,000 |
2,150,000 |
- |
2,150,000 |
2,150,000 |
|
Other
liabilities |
363,618 |
482,571 |
- |
1,374,914 |
49,751 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
6,764,356 |
7,406,566 |
6,201,612 |
6,031,995 |
4,557,397 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
(1,329,343) |
(998,519) |
(465,752) |
(790,937) |
(532,709) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
(1,287,926) |
(930,841) |
(401,670) |
(455,667) |
(189,836) |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE
CAPITAL |
|||||
|
Ordinary
share capital |
200,000 |
200,000 |
200,000 |
200,000 |
200,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
200,000 |
200,000 |
200,000 |
200,000 |
200,000 |
|
Retained
profit/(loss) carried forward |
(1,488,269) |
(1,131,184) |
(602,013) |
(656,010) |
(451,252) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
(1,488,269) |
(1,131,184) |
(602,013) |
(656,010) |
(451,252) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
(1,288,269) |
(931,184) |
(402,013) |
(456,010) |
(251,252) |
|
Deferred
taxation |
343 |
343 |
- |
343 |
1,796 |
|
Others |
- |
- |
- |
- |
59,620 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
343 |
343 |
343 |
343 |
61,416 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
(1,287,926) |
(930,841) |
(401,670) |
(455,667) |
(189,836) |
|
|
============= |
============= |
============= |
============= |
============= |
FINANCIAL
RATIO
|
|
MOSCA
ASIA PTE. LTD. |
|
TYPES
OF FUNDS |
|||||
|
Cash |
176,737 |
193,932 |
- |
297,399 |
222,785 |
|
Net
Liquid Funds |
176,737 |
193,932 |
- |
297,399 |
222,785 |
|
Net
Liquid Assets |
(2,812,866) |
(3,135,206) |
(465,752) |
(3,358,540) |
(1,233,300) |
|
Net
Current Assets/(Liabilities) |
(1,329,343) |
(998,519) |
(465,752) |
(790,937) |
(532,709) |
|
Net
Tangible Assets |
(1,287,926) |
(930,841) |
(401,670) |
(455,667) |
(189,836) |
|
Net
Monetary Assets |
(2,813,209) |
(3,135,549) |
(466,095) |
(3,358,883) |
(1,294,716) |
|
PROFIT
& LOSS ITEMS |
|||||
|
Earnings
Before Interest & Tax (EBIT) |
(163,336) |
(365,015) |
- |
(109,783) |
133,662 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
(121,461) |
(315,811) |
- |
(83,235) |
146,517 |
|
BALANCE
SHEET ITEMS |
|||||
|
Total
Borrowings |
2,150,000 |
2,150,000 |
- |
2,150,000 |
2,150,000 |
|
Total
Liabilities |
6,764,699 |
7,406,909 |
6,201,955 |
6,032,338 |
4,618,813 |
|
Total
Assets |
5,476,430 |
6,475,725 |
5,799,942 |
5,576,328 |
4,367,561 |
|
Net
Assets |
(1,287,926) |
(930,841) |
(401,670) |
(455,667) |
(189,836) |
|
Net
Assets Backing |
(1,288,269) |
(931,184) |
(402,013) |
(456,010) |
(251,252) |
|
Shareholders'
Funds |
(1,288,269) |
(931,184) |
(402,013) |
(456,010) |
(251,252) |
|
Total
Share Capital |
200,000 |
200,000 |
200,000 |
200,000 |
200,000 |
|
Total
Reserves |
(1,488,269) |
(1,131,184) |
(602,013) |
(656,010) |
(451,252) |
|
LIQUIDITY
(Times) |
|||||
|
Cash
Ratio |
0.03 |
0.03 |
- |
0.05 |
0.05 |
|
Liquid
Ratio |
0.58 |
0.58 |
- |
0.44 |
0.73 |
|
Current
Ratio |
0.80 |
0.87 |
0.92 |
0.87 |
0.88 |
|
WORKING
CAPITAL CONTROL (Days) |
|||||
|
Stock
Ratio |
67 |
99 |
- |
298 |
81 |
|
Debtors
Ratio |
158 |
176 |
- |
231 |
306 |
|
Creditors
Ratio |
235 |
277 |
- |
399 |
337 |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Gearing
Ratio |
(1.67) |
(2.31) |
- |
(4.71) |
(8.56) |
|
Liabilities
Ratio |
(5.25) |
(7.95) |
(15.43) |
(13.23) |
(18.38) |
|
Times
Interest Earned Ratio |
(0.84) |
(2.22) |
- |
(1.14) |
1.25 |
|
Assets
Backing Ratio |
(6.44) |
(4.65) |
(2.01) |
(2.28) |
(0.95) |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating
Profit Margin |
(4.43) |
(6.69) |
0.76 |
(6.55) |
0.84 |
|
Net
Profit Margin |
(4.43) |
(6.69) |
0.76 |
(6.51) |
1.27 |
|
Return
On Net Assets |
12.68 |
39.21 |
(13.44) |
24.09 |
(70.41) |
|
Return
On Capital Employed |
12.68 |
39.21 |
(13.44) |
24.09 |
(70.41) |
|
Return
On Shareholders' Funds/Equity |
27.72 |
56.83 |
(13.43) |
44.90 |
(16.03) |
|
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.66.74 |
|
UK Pound |
1 |
Rs.101.36 |
|
Euro |
1 |
Rs.74.27 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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.