|
Report No. : |
340683 |
|
Report Date : |
15.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
OKAMOTO (SINGAPORE) PRIVATE LIMITED |
|
|
|
|
Registered Office : |
10, Riverside Road, Marsiling Lane Industrial Estate, 739082 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
19.12.1973 |
|
|
|
|
Com. Reg. No.: |
197302386-G |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is engaged in the
manufacturing of precision tools. |
|
|
|
|
No. of Employees : |
250 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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. |
: |
197302386-G |
|
COMPANY NAME |
: |
OKAMOTO
(SINGAPORE) PRIVATE LIMITED |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION
DATE |
: |
19/12/1973 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
10, RIVERSIDE
ROAD, MARSILING LANE INDUSTRIAL ESTATE, 739082, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
10, RIVERSIDE ROAD,
ENTRANCE AT MARSILING LANE, WOODLANDS NEWTOWN, 739082, SINGAPORE. |
|
TEL.NO. |
: |
65-63623818 |
|
FAX.NO. |
: |
65-63623368 |
|
WEB SITE |
: |
WWW.OKAMOTO.COM.SG |
|
CONTACT PERSON |
: |
SEIJI TAKAYAMA (
DIRECTOR ) |
|
PRINCIPAL
ACTIVITY |
: |
MANUFACTURING OF
PRECISION TOOLS |
|
ISSUED AND PAID
UP CAPITAL |
: |
20,300,001.00
ORDINARY SHARE, OF A VALUE OF SGD 21,500,000.00 |
|
SALES |
: |
SGD 40,848,873
[2014] |
|
NET WORTH |
: |
SGD 24,535,804
[2014] |
|
STAFF STRENGTH |
: |
250 [2015] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL
CONDITION |
: |
POOR |
|
PAYMENT |
: |
AVERAGE |
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY
EXPOSURE |
: |
MODERATE |
|
GENERAL
REPUTATION |
: |
GOOD |
|
INDUSTRY OUTLOOK |
: |
MATURE |
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) manufacturing of precision tools.
Share
Capital History
|
Date |
Issue & Paid
Up Capital |
|
14/09/2015 |
SGD
21,500,000.00 |
The major shareholder(s)
of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
OKAMOTO MACHINE
TOOL WORKS, LTD. |
2993, GOBARA,
ANNAKA, GUNMA 379-0135, JAPAN. |
T05UF0202B |
20,300,001.00 |
100.00 |
|
--------------- |
------ |
|||
|
20,300,001.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTOR
1
|
Name Of Subject |
: |
TADAO ARAI |
|
Address |
: |
RM 26C, GP GRANDE
TOWER, 55 SOI SUKHUMVIT 23, SUKHUMVIT ROAD, KLONGTOEY NUA, WATTANA, 10110,
BANGKOK, THAILAND. |
|
IC / PP No |
: |
TH8906195 |
|
Nationality |
: |
JAPANESE |
|
Date of
Appointment |
: |
01/07/2012 |
DIRECTOR
2
|
Name Of Subject |
: |
SEIJI TAKAYAMA |
|
Address |
: |
13, DEVONSHIRE
ROAD, 01-02, BAYRON, THE 239848, SINGAPORE. |
|
IC / PP No |
: |
F2180920 |
|
Nationality |
: |
JAPANESE |
|
Date of
Appointment |
: |
01/07/2014 |
DIRECTOR
3
|
Name Of Subject |
: |
TAY BOON SIONG |
|
Address |
: |
170, MILTONIA
CLOSE, SHAUGHNESSY, THE 768271, SINGAPORE. |
|
IC / PP No |
: |
S0026112B |
|
Date of Birth |
: |
05/05/1979 |
|
Nationality |
: |
SINGAPOREAN |
|
Date of
Appointment |
: |
30/09/2003 |
DIRECTOR
4
|
Name Of Subject |
: |
JITSUO NISHIMOTO |
|
Address |
: |
264-5,
KENZAKI-CHO, TAKASAKI GUNMA, 370-0883, JAPAN. |
|
IC / PP No |
: |
TH4559993 |
|
Nationality |
: |
JAPANESE |
|
Date of
Appointment |
: |
15/09/2005 |
|
1) |
Name of Subject |
: |
SEIJI TAKAYAMA |
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
KPMG LLP |
|
Auditor' Address |
: |
N/A |
|
1) |
Company
Secretary |
: |
LEONG YOKE YENG |
|
IC / PP No |
: |
S1329872F |
|
|
Address |
: |
123, CORONATION
ROAD WEST, 269348, SINGAPORE. |
No Banker found in our databank.
|
Charge No |
Creation Date |
Charge
Description |
Chargee Name |
Total Charge |
Status |
|
8801198 |
14/04/1988 |
N/A |
DBS BANK LTD. |
- |
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 |
: |
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 |
: |
ASIA |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Products
manufactured |
: |
|
|
|
Total Number of
Employees: |
|||||||||
|
YEAR |
2015 |
||||||||
|
|
|||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
250 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing of
precision tools.
The Subject has been developing into a fully integrated machine tool
manufacturing operation.
Okamoto Singapore was the first Asian machine tool plant in the industry.
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone Number
Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-63623818 |
|
Match |
: |
N/A |
|
Address Provided
by Client |
: |
10 RIVERSIDE
ROAD, SINGAPORE 739082 |
|
Current Address |
: |
10, RIVERSIDE ROAD,
ENTRANCE AT MARSILING LANE, WOODLANDS NEWTOWN, 739082, 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.
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
23.58% |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
(227.09%) |
] |
|
|
Return on
Shareholder Funds |
: |
Unfavourable |
[ |
(24.30%) |
] |
|
|
Return on Net
Assets |
: |
Unfavourable |
[ |
(22.57%) |
] |
|
|
The lower
turnover could be due to the intense market competition.Higher losses before tax
during the year could be due to the higher operating costs incurred. The
Subject's unfavourable returns on shareholders' funds indicate the
management's inefficiency in utilising its assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Unfavourable |
[ |
124 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
47 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
36 Days |
] |
|
|
The Subject could
be incurring higher holding cost. As its capital was tied up in stocks, it
could face liquidity problems. The favourable debtors' days could be due to
the good credit control measures implemented by the Subject. The Subject had
a favourable creditors' ratio where the Subject could be taking advantage of
the cash discounts and also wanting to maintain goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Unfavourable |
[ |
0.52 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.94 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 |
[ |
(13.19 Times) |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.27 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 was lowly geared
thus it had a low financial risk. The Subject was mainly financed by its
shareholders' funds and internally generated funds. In times of economic
slowdown / downturn, the Subject being a lowly geared company, will be able
to compete better than those companies which are highly geared in the same
industry. |
||||||
|
Overall
Assessment : |
||||||
|
The Subject's
losses could be attributed to the lower turnover which in turn could be the result
of unfavourable market conditions. 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 as a lowly geared company, will be more secured compared
to those highly geared companies. It has the ability to meet all its long
term obligations. |
||||||
|
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 : |
MANUFACTURING |
|
In the third quarter of 2014, manufacturing output
has increased by 1.9%, extending the 1.5% growth in the previous quarter.
Growth was largely driven by the biomedical manufacturing and chemicals
clusters. Besides, for the whole 2013, the manufacturing sector grew by 1.7%,
an uptick from the 0.3% growth recorded in the previous year. All clusters
recorded an expansion in 2013, except the biomedical manufacturing cluster. |
|
|
The chemicals cluster grew by 5.2% in the third
quarter of 2014. Growth was led by the petrochemicals and specialty chemicals
segments, which expanded by 8.9% and 7.1% respectively. By contrast, the
petroleum segment contracted by 4.2% in the third quarter of 2014 due to
plant maintenance shutdowns. For the year of 2013, the chemicals cluster grew
only by 0.7%. |
|
|
Besides, output of the biomedical manufacturing
cluster expanded by 9.0% in the third quarter of 2014. The medical technology
segment posted robust growth of 23% due to higher production of medical
instruments and supplies, while the output of the pharmaceuticals segment
rose by 6.2%. However, in the whole of 2013, the biomedical manufacturing
cluster recorded only a flat growth. |
|
|
In the third quarter of 2014, the transport
engineering cluster contracted by 2.0%, dragged down by the aerospace segment.
Output in the aerospace segment plunged by 18% on the back of fewer repair
jobs from commercial airlines. This was mitigated by the 4.1% growth in the
marine & offshore engineering segment, which was supported by higher
contributions from rig building projects. Nonetheless, for the whole of 2013,
the transport engineering cluster grew by 5.2%. |
|
|
Moreover, output of the precision engineering
cluster increased by 1.3% in the third quarter of 2014. The machinery &
systems segment grew by 6.2%, supported by higher demand for
semiconductor-related equipment and mechanical engineering work. This was
partly offset by the decline in the output of the precision modules &
components segment. Conversely, in the full year of 2013, the precision
engineering cluster's output declined by 5.6%. |
|
|
Furthermore, in the third quarter of 2014, output
of the general manufacturing industries declined by 3.0%. The 2.1% growth in
the food, beverages & tobacco segment was more than offset by declines in
the other two segments. In particular, the miscellaneous industries segment
contracted by 4.7% on the back of lower output in construction-related
products, such as concrete & cement products and steel structural
components. For the full year of 2013, the general manufacturing cluster grew
by 2.8%. |
|
|
Besides, in the third quarter of 2014, the
electronics cluster expanded by 0.9%, reversing the 5.0% contraction in the
previous quarter. Growth was supported by an expansion in the computer
peripherals (6.3%) and data storage (2.6%) segments. Moreover, for the year
2013, the electronics cluster expanded by 3.5%. |
|
|
OVERALL INDUSTRY
OUTLOOK : MATURE |
|
|
Incorporated in 1973, the Subject is a Private
Limited company, focusing on manufacturing of precision tools. The Subject
has been in business for over two decades. It has built up a strong clientele
base and good reputation will enable the Subject to further enhance its
business in the near term. The Subject is expected to enjoy a stable market
shares. Having strong support from its holding company has enabled the
Subject to remain competitive despite the challenging business environment.
The Subject is a large entity with strong capital position. We are confident
with the Subject's business and its future growth prospect.
|
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS. |
|
OKAMOTO (SINGAPORE)
PRIVATE LIMITED |
|
Financial Year
End |
2014-03-31 |
2013-03-31 |
|
Months |
12 |
12 |
|
Consolidated
Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
SGD |
SGD |
|
TURNOVER |
40,848,873 |
53,449,916 |
|
Other Income |
316,325 |
106,635 |
|
---------------- |
---------------- |
|
|
Total Turnover |
41,165,198 |
53,556,551 |
|
Costs of Goods
Sold |
(41,749,963) |
(49,353,909) |
|
---------------- |
---------------- |
|
|
Gross Profit |
(584,765) |
4,202,642 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
(5,963,276) |
(1,823,106) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE
TAXATION |
(5,963,276) |
(1,823,106) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
(5,963,276) |
(1,823,106) |
|
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
6,421,780 |
8,346,386 |
|
---------------- |
---------------- |
|
|
As restated |
6,421,780 |
8,346,386 |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE
FOR APPROPRIATIONS |
458,504 |
6,523,280 |
|
DIVIDENDS -
Ordinary (paid & proposed) |
- |
(101,500) |
|
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
458,504 |
6,421,780 |
|
============= |
============= |
|
|
INTEREST EXPENSE
(as per notes to P&L) |
||
|
Bank overdraft |
16,288 |
9,446 |
|
Hire purchase |
19,707 |
22,440 |
|
Term loan /
Borrowing |
186,308 |
191,722 |
|
Others |
197,828 |
262,377 |
|
---------------- |
---------------- |
|
|
420,131 |
485,985 |
|
|
============= |
============= |
|
|
DEPRECIATION (as
per notes to P&L) |
1,582,473 |
1,614,302 |
|
---------------- |
---------------- |
|
|
1,582,473 |
1,614,302 |
|
|
============= |
============= |
|
OKAMOTO
(SINGAPORE) PRIVATE LIMITED |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
18,224,074 |
19,200,191 |
|
Associated
companies |
8,386,000 |
8,386,000 |
|
Investments |
123,200 |
123,200 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM
INVESTMENTS/OTHER ASSETS |
8,509,200 |
8,509,200 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM
ASSETS |
26,733,274 |
27,709,391 |
|
Stocks |
13,836,315 |
14,574,836 |
|
Trade debtors |
5,246,466 |
6,225,875 |
|
Other debtors,
deposits & prepayments |
117,782 |
123,082 |
|
Amount due from
related companies |
9,958,547 |
6,361,194 |
|
Cash & bank
balances |
2,086,998 |
1,284,301 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT
ASSETS |
31,246,108 |
28,569,288 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
57,979,382 |
56,278,679 |
|
============= |
============= |
|
|
CURRENT
LIABILITIES |
||
|
Trade creditors |
4,074,771 |
3,698,001 |
|
Other creditors
& accruals |
2,524,127 |
2,149,519 |
|
Short term
borrowings/Term loans |
6,652,673 |
7,852,246 |
|
Bill &
acceptances payable |
2,830 |
870 |
|
Amounts owing to
related companies |
19,752,676 |
11,183,954 |
|
Lease payables |
407,304 |
458,508 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT
LIABILITIES |
33,414,381 |
25,343,098 |
|
---------------- |
---------------- |
|
|
NET CURRENT
ASSETS/(LIABILITIES) |
(2,168,273) |
3,226,190 |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
24,565,001 |
30,935,581 |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share
capital |
24,077,300 |
24,077,300 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE
CAPITAL |
24,077,300 |
24,077,300 |
|
Retained
profit/(loss) carried forward |
458,504 |
6,421,780 |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
458,504 |
6,421,780 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
24,535,804 |
30,499,080 |
|
Lease
obligations |
29,197 |
436,501 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM
LIABILITIES |
29,197 |
436,501 |
|
---------------- |
---------------- |
|
|
24,565,001 |
30,935,581 |
|
|
============= |
============= |
|
OKAMOTO
(SINGAPORE) PRIVATE LIMITED |
|
TYPES OF FUNDS |
||
|
Cash |
2,086,998 |
1,284,301 |
|
Net Liquid Funds |
2,084,168 |
1,283,431 |
|
Net Liquid
Assets |
(16,004,588) |
(11,348,646) |
|
Net Current
Assets/(Liabilities) |
(2,168,273) |
3,226,190 |
|
Net Tangible
Assets |
24,565,001 |
30,935,581 |
|
Net Monetary
Assets |
(16,033,785) |
(11,785,147) |
|
PROFIT &
LOSS ITEMS |
||
|
Earnings Before
Interest & Tax (EBIT) |
(5,543,145) |
(1,337,121) |
|
Earnings Before
Interest, Taxes, Depreciation And Amortization (EBITDA) |
(3,960,672) |
277,181 |
|
BALANCE SHEET
ITEMS |
||
|
Total Borrowings |
6,684,700 |
8,289,617 |
|
Total
Liabilities |
33,443,578 |
25,779,599 |
|
Total Assets |
57,979,382 |
56,278,679 |
|
Net Assets |
24,565,001 |
30,935,581 |
|
Net Assets
Backing |
24,535,804 |
30,499,080 |
|
Shareholders'
Funds |
24,535,804 |
30,499,080 |
|
Total Share
Capital |
24,077,300 |
24,077,300 |
|
Total Reserves |
458,504 |
6,421,780 |
|
LIQUIDITY
(Times) |
||
|
Cash Ratio |
0.06 |
0.05 |
|
Liquid Ratio |
0.52 |
0.55 |
|
Current Ratio |
0.94 |
1.13 |
|
WORKING CAPITAL
CONTROL (Days) |
||
|
Stock Ratio |
124 |
100 |
|
Debtors Ratio |
47 |
43 |
|
Creditors Ratio |
36 |
27 |
|
SOLVENCY RATIOS
(Times) |
||
|
Gearing Ratio |
0.27 |
0.27 |
|
Liabilities
Ratio |
1.36 |
0.85 |
|
Times Interest
Earned Ratio |
(13.19) |
(2.75) |
|
Assets Backing
Ratio |
1.02 |
1.28 |
|
PERFORMANCE
RATIO (%) |
||
|
Operating Profit
Margin |
(14.60) |
(3.41) |
|
Net Profit
Margin |
(14.60) |
(3.41) |
|
Return On Net
Assets |
(22.57) |
(4.32) |
|
Return On
Capital Employed |
(22.57) |
(4.32) |
|
Return On
Shareholders' Funds/Equity |
(24.30) |
(5.98) |
|
Dividend Pay Out
Ratio (Times) |
0 |
0.06 |
|
NOTES TO ACCOUNTS |
||
|
Contingent
Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.37 |
|
UK Pound |
1 |
Rs.102.54 |
|
Euro |
1 |
Rs.75.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
TRU |
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.