|
Report No. : |
340019 |
|
Report Date : |
09.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
J. C. L. ENGINEERING PTE. LTD. |
|
|
|
|
Registered Office : |
70, Anson Road, 22-03, Hub Synergy Point, 079905 |
|
|
|
|
Country : |
Singapore
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
19.11.1983 |
|
|
|
|
Com. Reg. No.: |
198305504-G |
|
|
|
|
Legal Form : |
Exempt Private |
|
|
|
|
Line of Business : |
The Subject is principally engaged in the engineering |
|
|
|
|
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. |
: |
198305504-G |
|
COMPANY
NAME |
: |
J.
C. L. ENGINEERING PTE. LTD. |
|
FORMER
NAME |
: |
N/A |
|
INCORPORATION
DATE |
: |
19/11/1983 |
|
COMPANY
STATUS |
: |
EXIST |
|
LEGAL
FORM |
: |
EXEMPT
PRIVATE |
|
LISTED
STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
70,
ANSON ROAD, 22-03, HUB SYNERGY POINT, 079905, SINGAPORE. |
|
BUSINESS
ADDRESS |
: |
70,
ANSON ROAD, 22-03, HUB SYNERGY POINT, 079905, SINGAPORE. |
|
TEL.NO. |
: |
65-62254867 |
|
FAX.NO. |
: |
65-62238298 |
|
CONTACT
PERSON |
: |
JOW
JENG JONG ( DIRECTOR ) |
|
PRINCIPAL
ACTIVITY |
: |
ENGINEERING |
|
ISSUED
AND PAID UP CAPITAL |
: |
100,000.00
ORDINARY SHARE, OF A VALUE OF SGD 100,000.00 |
|
SALES |
: |
USD
3,547,411 [2013] |
|
NET
WORTH |
: |
USD
(17,579) [2013] |
|
STAFF
STRENGTH |
: |
10
[2015] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL
CONDITION |
: |
POOR |
|
PAYMENT |
: |
FAIR |
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL
RISK |
: |
N/A |
|
CURRENCY
EXPOSURE |
: |
N/A |
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY
OUTLOOK |
: |
MARGINAL
GROWTH |
The Subject is an exempt private company whose
shares are not held by any corporate body and has no more than 20 shareholders
who are all natural persons. An exempt company is a type of private limited
company. 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, suing or be sued by other companies. An exempt
private company with an annual turnover of less than SGD5 million are exempted
from statutory auditing requirements. Instead of filing audited annual
accounts, the Subject has to file in a document duly signed by its director in
charge of its finance and the company secretary stating that the Subject is
able to meet all its obligations as and when they fall due. The Subject is not
required to have their accounts audited. However, the Subject will prepare
unaudited accounts for purposes of AGMs and filing with Registry Office if it
is unable to meet all its obligations as and when they fall due.
The
Subject is principally engaged in the (as a / as an) engineering.
Share
Capital History
|
Date |
Issue
& Paid Up Capital |
|
07/09/2015 |
SGD
100,000.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
EN-MIN
DANIEL JOW |
323,
NIOU PU RD HSINCHU, TAIWAN. |
M4327513 |
14,290.00 |
14.29 |
|
JOW
JENG JONG |
130,
TANJONG RHU ROAD, 04-14, 436918, SINGAPORE. |
S2197400E |
14,285.00 |
14.29 |
|
CHO
CHENG-NAN |
451,
NIOU TU RD HSINCHU, TAIWAN. |
MFA0263670 |
14,285.00 |
14.29 |
|
JOW
CHENG-TE |
451,
NIOU TU RD HSINCHU, TAIWAN. |
MFA0626493 |
14,285.00 |
14.29 |
|
CHO
HSI-LING |
451,
NIOU TU RD, TAIWAN. |
MFA0238554 |
14,285.00 |
14.29 |
|
JOW
JENG LIANG |
451,
NOIU TU RD, TAIWAN. |
MFA0967430 |
14,285.00 |
14.29 |
|
JOW
CHENG-MING |
451,
NIOU TU RD HSINCHU, TAIWAN. |
NFA0967429 |
14,285.00 |
14.29 |
|
--------------- |
------ |
|||
|
100,000.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
DIRECTOR
1
|
Name
Of Subject |
: |
JOW
JENG JONG |
|
Address |
: |
130,
TANJONG RHU ROAD, 04-14, 436918, SINGAPORE. |
|
IC
/ PP No |
: |
S2197400E |
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
25/04/1984 |
DIRECTOR
2
|
Name
Of Subject |
: |
CHEN
CHUN MEI |
|
Address |
: |
130,
TANJONG RHU ROAD, 04-14, 436918, SINGAPORE. |
|
IC
/ PP No |
: |
S2198869C |
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
09/03/1984 |
|
1)
|
Name
of Subject |
: |
JOW
JENG JONG |
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
LEE
S F & CO |
|
Auditor'
Address |
: |
N/A |
|
1)
|
Company
Secretary |
: |
NG
HOE CHOR |
|
IC
/ PP No |
: |
S1621129Z |
|
|
Address |
: |
729,
ANG MO KIO AVENUE 6, 15-4278, 560729, SINGAPORE. |
No Banker found in our databank.
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
199806184 |
16/12/1998 |
N/A |
HSBC
BANK USA |
- |
Unsatisfied |
* A check has been conducted in our databank againt the Subject whether the
subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
|
SOURCES
OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to 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 |
[ |
X |
] |
Poor
>120 Days |
[ |
] |
||||||||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its clientele.
|
Services |
: |
ENGINEERING |
|
Total
Number of Employees: |
|||||||||
|
YEAR |
2015 |
||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
10 |
||||||||
|
Branch |
: |
|
Other
Information:
The Subject is principally engaged in the (as a / as an) engineering.
The Subject refused to disclose its operation.
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
65
62254867 |
|
Current
Telephone Number |
: |
65-62254867 |
|
Match |
: |
YES |
|
Address
Provided by Client |
: |
70
ANSON ROAD NO 22-03 HUB SYNERGY POINT SINGAPORE 079905 |
|
Current
Address |
: |
70,
ANSON ROAD, 22-03, HUB SYNERGY POINT, 079905, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject and he only provided limited
information.
The Subject refused to disclose its bankers.
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
3.69% |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
(47.81%) |
] |
|
|
Return
on Shareholder Funds |
: |
Unfavourable |
[ |
2,867.72% |
] |
|
|
Return
on Net Assets |
: |
Unfavourable |
[ |
2,864.78% |
] |
|
|
The
higher turnover could be attributed to the favourable market condition.Higher
losses before tax during the year could be due to the higher operating costs incurred.
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 |
: |
Nil |
[ |
0
Days |
] |
|
|
Debtor
Ratio |
: |
Unfavourable |
[ |
164
Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
0
Days |
] |
|
|
As
the Subject is a service oriented company, the Subject does not need to keep stocks.
The Subject's debtors ratio was high. The Subject should tighten its credit
control and improve its collection period. 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 |
: |
Acceptable |
[ |
0.96
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
0.96
Times |
] |
|
|
The
Subject's liquid ratio was slightly low. This could indicate that the
Subject's working capital was slightly deficient. The Subject will have to
improve its liquidity position either by obtaining short term financing or
increase its paid up capital so that it can meet all its short term
obligations as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest
Cover |
: |
Nil |
[ |
0.00
Times |
] |
|
|
Gearing
Ratio |
: |
Favourable |
[ |
0.00
Times |
] |
|
|
The
Subject's interest cover was nil as it did not pay any interest during the
year. The Subject had no gearing and hence it had virtually no financial
risk. The Subject was financed by its shareholders' funds and internally
generated fund. During the economic downturn, the Subject, having a zero
gearing, will be able to compete better than those which are highly geared in
the same industry. |
||||||
|
Overall
Assessment : |
||||||
|
Although
the Subject's turnover increased its profits however showed a reverse trend.
The losses could be due to the management's failure to maintain its
competitiveness in the market. The Subject's liquidity was at an acceptable
range. If the Subject is able to obtain further short term financing, it
should be able to meet all 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 : POOR |
||||||
|
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
: |
ECONOMY |
|
The Ministry of Trade and Industry (MTI)
announced that it expects the Singapore economy to grow by around 3.0% in 2014,
and by 2.0 to 4.0% in 2015. Besides that in 2013, the economy grew by 4.1%,
higher than the 1.9% growth in 2012. This was mainly due to strong growth in
the services producing industries, particularly the finance & insurance,
as well as wholesale & retail trade sectors. |
|
|
In 2013, all sectors contributed positively
to growth. Finance & insurance was the largest contributor (1.2
percentage-points), followed by wholesale & retail trade (0.8
percentage-points) and business services (0.6 percentage-points). Growth in
the manufacturing sector was improved by 1.7%, on the back of strong growth
in the electronics and transport engineering clusters. By contrast, growth in
the construction sector moderated to 5.9%, from 8.6% in 2012. |
|
|
Growth in the services producing industries
picked up to 5.3% in 2013, from 2.0% in 2012. This was mainly due to stronger
growth in the finance & insurance and wholesale & retail trade
sectors. The finance & insurance sector grew by 11%, up from 1.3% in the
previous year. The wholesale & retail trade sector has expanded by 5.0%,
after declining by 1.4% the year before. |
|
|
For the whole of 2013, growth in total
demand was 3.1%, similar to the pace of growth in 2012. External demand was
the key contributor to total demand growth, accounting for 2.7
percentage-points, or almost 90%, of the increase. External demand grew at a
faster pace of 3.6%, compared to the 1.4% growth in 2012. This was supported
mainly by growth in the exports of machinery & transport equipment,
miscellaneous manufactures, and transport services. Total domestic demand
rose by a modest 1.7%, following the 8.6% increase in 2012. The slower growth
in total domestic demand was primarily due to the decline in gross fixed
capital formation (GFCF). |
|
|
For the full year, total consumption
expenditure grew by 4.4% in 2013, faster than the 2.8% growth in 2012. Public
consumption expenditure increased by 11%, a strong rebound from the 1.9%
decline in 2012. Private consumption expenditure recorded gains of 2.7%,
moderating from the 4.1% increase in the preceding year. |
|
|
Furthermore, in the first three quarters of
2014, the Singapore economy grew by 3.3% on a year-on-year basis. For the rest
of the year, growth is expected to ease slightly on a year-on-year basis, in
line with a projected slowdown in the global economy. Externally-oriented
sectors such as the manufacturing and transportation & storage sectors
are likely to slow, whereas growth in the construction sector will continue
to be weighed down by the weakness in private sector construction activities.
On the other hand, domestically-oriented sectors like business services are
likely to remain resilient. |
|
|
Additionally, the labour market in
Singapore is expected to remain tight in 2015, with low unemployment and
rising vacancy rates. Against this global and domestic backdrop, the growth
outlook for the Singapore economy remains modest. In tandem with the expected
pick-up in external demand, externally-oriented sectors such as
manufacturing, wholesale trade and finance & insurance are likely to
provide support to growth. While some domestically-oriented sectors such as
businesses services are expected to remain resilient, labour-intensive ones
like construction, retail and food services may see their growth weighed down
by labour constraints. |
|
|
OVERALL
INDUSTRY OUTLOOK : MARGINAL GROWTH |
|
|
Incorporated in 1983, the Subject is an
Exempt Private company, focusing on engineering. The Subject has been in
business for over two decades. It has built up a strong clientele base and
satisfactory reputation will enable the Subject to further enhance its
business in the near term. The Subject is expected to enjoy a stable market
shares. With an issued and paid up capital of SGD 100,000 contributed by
individual shareholders, the Subject may face difficulties in its attempt to
further expand its business in the future. Thus, the Subject should put more
efforts on its business to gain higher market share while competing
aggressively in the market.
|
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS. |
|
Financial
Year End |
2013-12-31 |
2012-12-31 |
|
Months |
12 |
12 |
|
Consolidated
Account |
Company |
Company |
|
Audited
Account |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial
Type |
FULL |
FULL |
|
Currency |
USD |
USD |
|
TURNOVER |
3,547,411 |
3,421,261 |
|
Other
Income |
93,082 |
125,831 |
|
---------------- |
---------------- |
|
|
Total
Turnover |
3,640,493 |
3,547,092 |
|
Costs
of Goods Sold |
(3,522,504) |
(3,061,559) |
|
---------------- |
---------------- |
|
|
Gross
Profit |
117,989 |
485,533 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
(504,116) |
(341,051) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
(504,116) |
(341,051) |
|
Taxation |
- |
6 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
(504,116) |
(341,045) |
|
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As
previously reported |
412,569 |
753,614 |
|
---------------- |
---------------- |
|
|
As
restated |
412,569 |
753,614 |
|
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
(91,547) |
412,569 |
|
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
(91,547) |
412,569 |
|
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
||
|
DEPRECIATION
(as per notes to P&L) |
15,748 |
16,198 |
|
---------------- |
---------------- |
|
|
15,748 |
16,198 |
|
|
============= |
============= |
|
ASSETS
EMPLOYED: |
||
|
FIXED
ASSETS |
41,401 |
55,482 |
|
Others |
9,922 |
9,703 |
|
---------------- |
---------------- |
|
|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
9,922 |
9,703 |
|
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
51,323 |
65,185 |
|
Trade
debtors |
1,592,556 |
1,163,088 |
|
Other
debtors, deposits & prepayments |
41,902 |
904,576 |
|
Cash
& bank balances |
114,568 |
386,104 |
|
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
1,749,026 |
2,453,768 |
|
---------------- |
---------------- |
|
|
TOTAL
ASSET |
1,800,349 |
2,518,953 |
|
============= |
============= |
|
|
Other
creditors & accruals |
128,397 |
714,000 |
|
Amounts
owing to related companies |
1,589,549 |
1,318,834 |
|
Amounts
owing to director |
100,000 |
- |
|
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
1,817,946 |
2,032,834 |
|
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
(68,920) |
420,934 |
|
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
(17,597) |
486,119 |
|
============= |
============= |
|
|
SHARE
CAPITAL |
||
|
Ordinary
share capital |
81,806 |
81,806 |
|
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
81,806 |
81,806 |
|
Revaluation
reserve |
(7,838) |
(8,057) |
|
Exchange
equalisation/fluctuation reserve |
- |
(199) |
|
Retained
profit/(loss) carried forward |
(91,547) |
412,569 |
|
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
(99,385) |
404,313 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
(17,579) |
486,119 |
|
Others |
(18) |
- |
|
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
(18) |
- |
|
---------------- |
---------------- |
|
|
(17,597) |
486,119 |
|
|
============= |
============= |
|
TYPES
OF FUNDS |
||
|
Cash |
114,568 |
386,104 |
|
Net
Liquid Funds |
114,568 |
386,104 |
|
Net
Liquid Assets |
(68,920) |
420,934 |
|
Net
Current Assets/(Liabilities) |
(68,920) |
420,934 |
|
Net
Tangible Assets |
(17,597) |
486,119 |
|
Net
Monetary Assets |
(68,902) |
420,934 |
|
PROFIT
& LOSS ITEMS |
||
|
Earnings
Before Interest & Tax (EBIT) |
(504,116) |
(341,051) |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
(488,368) |
(324,853) |
|
BALANCE
SHEET ITEMS |
||
|
Total
Borrowings |
0 |
0 |
|
Total
Liabilities |
1,817,928 |
2,032,834 |
|
Total
Assets |
1,800,349 |
2,518,953 |
|
Net
Assets |
(17,597) |
486,119 |
|
Net
Assets Backing |
(17,579) |
486,119 |
|
Shareholders'
Funds |
(17,579) |
486,119 |
|
Total
Share Capital |
81,806 |
81,806 |
|
Total
Reserves |
(99,385) |
404,313 |
|
LIQUIDITY
(Times) |
||
|
Cash
Ratio |
0.06 |
0.19 |
|
Liquid
Ratio |
0.96 |
1.21 |
|
Current
Ratio |
0.96 |
1.21 |
|
WORKING
CAPITAL CONTROL (Days) |
||
|
Stock
Ratio |
0 |
0 |
|
Debtors
Ratio |
164 |
124 |
|
Creditors
Ratio |
0 |
0 |
|
SOLVENCY
RATIOS (Times) |
||
|
Gearing
Ratio |
0 |
0 |
|
Liabilities
Ratio |
(103.41) |
4.18 |
|
Times
Interest Earned Ratio |
0 |
0 |
|
Assets
Backing Ratio |
(0.22) |
5.94 |
|
PERFORMANCE
RATIO (%) |
||
|
Operating
Profit Margin |
(14.21) |
(9.97) |
|
Net
Profit Margin |
(14.21) |
(9.97) |
|
Return
On Net Assets |
2,864.78 |
(70.16) |
|
Return
On Capital Employed |
2,864.78 |
(70.16) |
|
Return
On Shareholders' Funds/Equity |
2,867.72 |
(70.16) |
|
Dividend
Pay Out Ratio (Times) |
0 |
0 |
|
NOTES
TO ACCOUNTS |
||
|
Contingent
Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.61 |
|
UK Pound |
1 |
Rs.102.30 |
|
Euro |
1 |
Rs.74.61 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
VNT |
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.