|
Report No. : |
341977 |
|
Report Date : |
24.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
SPHAERA PHARMA PTE. LTD. |
|
|
|
|
Registered Office : |
8, Temasek Boulevard, 22-03, Suntec Tower
Three, 038988 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.32014 |
|
|
|
|
Date of Incorporation : |
10.03.2008 |
|
|
|
|
Com. Reg. No.: |
200804706-Z |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Research & experimental development on biotechnology,
life & medical science |
|
|
|
|
No. of Employee : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 70040 |
|
|
|
|
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. |
: |
200804706-Z |
|
COMPANY NAME |
: |
SPHAERA PHARMA PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
10/03/2008 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
8, TEMASEK
BOULEVARD, 22-03, SUNTEC TOWER THREE, 038988, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
N/A |
|
TEL.NO. |
: |
N/A |
|
FAX.NO. |
: |
N/A |
|
CONTACT PERSON |
: |
N/A |
|
PRINCIPAL ACTIVITY |
: |
RESEARCH &
EXPERIMENTAL DEVELOPMENT ON BIOTECHNOLOGY, LIFE & MEDICAL SCIENCE |
|
ISSUED AND PAID UP CAPITAL |
: |
21,298.00
ORDINARY SHARE, OF A VALUE OF USD 24,018.00 |
|
SALES |
: |
USD 646,823
[2014] |
|
NET WORTH |
: |
USD 6,654,945
[2014] |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
N/A |
|
MANAGEMENT CAPABILITY |
: |
N/A |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
GENERAL REPUTATION |
: |
N/A |
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
The Subject is a private limited company and
is allowed to have a minimum of one and a maximum of forty-nine shareholders.
As a private limited company, the Subject must have at least two directors. A private
limited company is a separate legal entity from its shareholders. As a separate
legal entity, the Subject is capable of owning assets, entering into contracts,
sue or be sued by other companies. The liabilities of the shareholders are to
the extent of the equity they have taken up and the creditors cannot claim on
shareholders' personal assets even if the Subject is insolvent. The Subject is
governed by the Companies Act and the company must file its annual returns,
together with its financial statements with the Registrar of Companies.
The Subject is principally engaged in the (as
a / as an) research & experimental development on biotechnology, life &
medical science.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
22/09/2015 |
USD 24,018.00 & SGD 12,602.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
BARING INDIA PRIVATE EQUITY FUND III
12,000,000 LIMITED |
C/O MULTICONSULT LIMITED, ROGERS HOUSE, 5,
PRESIDENT JOHN KENNEDY STREET, PORT-LOUIS, MAURITIUS, MAURITIUS. |
011060 |
12,000,000.00 |
75.85 |
|
ADVANTIUM BIOSCIENCES, LLC |
2907, BAY TO BAY BOULEVARD, SUITE 201,
TAMPA, FL 33629, UNITED STATES. |
0115121 |
2,000,000.00 |
12.64 |
|
SUNDEEP DUGAR + |
5943, STERLING OAKS DRIVE, SAN JOSE, CA
95120, UNITED STATES. |
483726009 |
1,600,000.00 |
10.11 |
|
FRANK HOLLINGER |
1361, GLENHARDIE ROAD, WAYNE, PA, 19087,
UNITED STATES OF AMERICA, UNITED STATES. |
207576619 |
100,000.00 |
0.63 |
|
DHIREN THAKKER |
317, DALTON DRIVE RALEIGH, NC, 27615,
UNITED STATES OF AMERICA, UNITED STATES. |
017336366 |
100,000.00 |
0.63 |
|
ABHINAV DHANDIA |
C-6, GREATER KAILASH-I, NEW DELHI, 110048,
INDIA. |
M3066043 |
11,000.00 |
0.07 |
|
ASHISH DUGAR |
P-62, BLOCK-P, SOUTH EXTENSION PART II, NEW
DELHI, 110049, INDIA. |
F2948760 |
10,298.00 |
0.07 |
|
--------------- |
------ |
|||
|
15,821,298.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
RAHUL BHASIN |
|
Address |
: |
A-2/16, SAFDARJUNG ENCLAVE NEW DELHI,
110029, INDIA. |
|
IC / PP No |
: |
F3732278 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
24/11/2008 |
DIRECTOR 2
|
Name Of Subject |
: |
SIVARAMAKRISHNAN MEENAKSHI SUNDARAM |
|
Address |
: |
2851, MESQUITE DRIVE, SANTA CLARA CA,
95051, AMERICAN SAMOA. |
|
IC / PP No |
: |
466922397 |
|
Nationality |
: |
AMERICAN |
|
Date of Appointment |
: |
24/11/2008 |
DIRECTOR 3
|
Name Of Subject |
: |
IYER ANJALI SUBRAMANIAM |
|
Address |
: |
177, TANJONG RHU ROAD, 20-14, WATER PLACE,
436607, SINGAPORE. |
|
IC / PP No |
: |
S2557399D |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
31/07/2010 |
DIRECTOR 4
|
Name Of Subject |
: |
SUNDEEP DUGAR |
|
Address |
: |
5943, STERLING OAKS DRIVE, SAN JOSE, CA
95120, UNITED STATES. |
|
IC / PP No |
: |
483726009 |
|
Nationality |
: |
AMERICAN |
|
Date of Appointment |
: |
26/06/2012 |
No data found in our databank.
|
Auditor |
: |
JBS PRACTICE PUBLIC ACCOUNTING CORPORATION |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
IYER ANJALI SUBRAMANIAM |
|
IC / PP No |
: |
S2557399D |
|
|
Address |
: |
177, TANJONG RHU ROAD, 20-14, WATER PLACE,
436607, SINGAPORE. |
|
No Banker found in our databank.
No encumbrance was found in our databank at the time of investigation.
* A check has been conducted in our databank 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 |
No data found in our databank.
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) research &
experimental development on biotechnology, life & medical science.
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
N/A |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
8 TEMASEK BOULEVARD, #22-03 SUNTEC TOWER 3,
SINGAPORE 38988 |
|
Current Address |
: |
N/A |
|
Match |
: |
N/A |
Other Investigations
We were unable to contact the Subject and its Directors.
We were unable to allocate the Subject's Company Secretary firm.
We were unable to verify the address provided.
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
59.24% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
(85.44%) |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
(3.07%) |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
(3.07%) |
] |
|
|
The increase in turnover could be due to the
Subject adopting an aggressive marketing strategy.The Subject could be more
efficient in controlling its operating costs and had managed to reduce its
losses during the year. 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 |
: |
Nil |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Acceptable |
[ |
63 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
52 Days |
] |
|
|
As the Subject is a service oriented
company, the Subject does not need to keep 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 |
[ |
2.59 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.59 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 : |
||||||
|
The higher turnover had helped to reduce the
Subject's losses. 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
: FAIR |
||||||
|
Major Economic Indicators : |
2010 |
2011 |
2012 |
2013 |
2014 |
|
|
|||||
|
Population (Million) |
5.08 |
5.18 |
5.31 |
5.40 |
5.47 |
|
Gross Domestic Products ( % ) |
14.5 |
4.9 |
1.3 |
3.7 |
(3.5) |
|
Consumer Price Index |
2.8 |
5.2 |
4.6 |
2.4 |
2.4 |
|
Total Imports (Million) |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
463,779.1 |
|
Total Exports (Million) |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
518,922.7 |
|
|
|||||
|
Unemployment Rate (%) |
2.2 |
2.1 |
2.0 |
1.9 |
1.9 |
|
Tourist Arrival (Million) |
11.64 |
13.17 |
14.49 |
15.46 |
15.01 |
|
Hotel Occupancy Rate (%) |
85.6 |
86.5 |
86.4 |
86.3 |
85.5 |
|
Cellular Phone Subscriber (Million) |
1.43 |
1.50 |
1.52 |
1.97 |
1.98 |
|
|
|||||
|
Registration of New Companies (No.) |
29,798 |
32,317 |
31,892 |
37,288 |
41,589 |
|
Registration of New Companies (%) |
12.8 |
8.5 |
(1.3) |
9.8 |
11.5 |
|
Liquidation of Companies (No.) |
15,126 |
19,005 |
17,218 |
17,369 |
18,767 |
|
Liquidation of Companies (%) |
(32.5) |
25.6 |
9.4 |
(5.3) |
8.0 |
|
|
|||||
|
Registration of New Businesses (No.) |
23,978 |
23,494 |
24,788 |
22,893 |
35,773 |
|
Registration of New Businesses (%) |
(10.78) |
2.02 |
5.51 |
1.70 |
56.30 |
|
Liquidation of Businesses (No.) |
24,211 |
23,005 |
22,489 |
22,598 |
22,098 |
|
Liquidation of Businesses (%) |
2.8 |
(5) |
(2.2) |
0.5 |
(2.2) |
|
|
|||||
|
Bankruptcy Orders (No.) |
1,537 |
1,527 |
1,748 |
1,992 |
1,757 |
|
Bankruptcy Orders (%) |
(25.3) |
(0.7) |
14.5 |
14.0 |
(11.8) |
|
Bankruptcy Discharges (No.) |
2,252 |
1,391 |
1,881 |
2,584 |
3,546 |
|
Bankruptcy Discharges (%) |
(26.3) |
(38.2) |
35.2 |
37.4 |
37.2 |
|
|
|||||
|
INDUSTRIES ( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production of Principal Crops |
(0.48) |
4.25 |
3.64 |
- |
|
|
Fish Supply & Wholesale |
(10.5) |
12.10 |
(0.5) |
- |
2.80 |
|
|
|||||
|
Manufacturing * |
92.8 |
100.0 |
100.3 |
102.0 |
|
|
Food, Beverages & Tobacco |
96.4 |
100.0 |
103.5 |
103.5 |
105.0 |
|
Textiles |
122.1 |
100.0 |
104.0 |
87.1 |
74.9 |
|
Wearing Apparel |
123.3 |
100.0 |
92.1 |
77.8 |
49.5 |
|
Leather Products & Footwear |
81.8 |
100.0 |
98.6 |
109.8 |
95.9 |
|
Wood & Wood Products |
104.0 |
100.0 |
95.5 |
107.4 |
112.0 |
|
Paper & Paper Products |
106.1 |
100.0 |
97.4 |
103.2 |
103.4 |
|
Printing & Media |
103.5 |
100.0 |
93.0 |
86.1 |
80.3 |
|
Crude Oil Refineries |
95.6 |
100.0 |
99.4 |
93.5 |
85.6 |
|
Chemical & Chemical Products |
97.6 |
100.0 |
100.5 |
104.1 |
114.0 |
|
Pharmaceutical Products |
75.3 |
100.0 |
109.7 |
107.2 |
115.7 |
|
Rubber & Plastic Products |
112.3 |
100.0 |
96.5 |
92.9 |
92.8 |
|
Non-metallic Mineral |
92.5 |
100.0 |
98.2 |
97.6 |
82.2 |
|
Basic Metals |
102.2 |
100.0 |
90.6 |
76.5 |
98.3 |
|
Fabricated Metal Products |
103.6 |
100.0 |
104.3 |
105.1 |
105.1 |
|
Machinery & Equipment |
78.5 |
100.0 |
112.9 |
114.5 |
124.0 |
|
Electrical Machinery |
124.1 |
100.0 |
99.3 |
108.5 |
121.3 |
|
Electronic Components |
113.6 |
100.0 |
90.6 |
94.3 |
95.0 |
|
Transport Equipment |
94.0 |
100.0 |
106.3 |
107.5 |
103.2 |
|
|
|||||
|
Construction |
14.20 |
20.50 |
28.70 |
- |
22.00 |
|
Real Estate |
21.3 |
25.4 |
31.9 |
- |
145.1 |
|
|
|||||
|
Services |
|||||
|
Electricity, Gas & Water |
4.00 |
7.00 |
6.30 |
- |
|
|
Transport, Storage & Communication |
12.80 |
7.40 |
5.30 |
- |
14.20 |
|
Finance & Insurance |
(0.4) |
8.90 |
0.50 |
- |
6.00 |
|
Government Services |
9.70 |
6.90 |
6.00 |
- |
|
|
Education Services |
(0.9) |
(1.4) |
0.30 |
- |
5.98 |
|
|
|||||
|
* Based on Index of Industrial Production
(2011 = 100) |
|
INDUSTRY : |
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 |
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN
ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
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 |
USD |
USD |
|
TURNOVER |
646,823 |
406,185 |
|
Other Income |
256 |
430 |
|
---------------- |
---------------- |
|
|
Total Turnover |
647,079 |
406,615 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(204,595) |
(1,405,337) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
(204,595) |
(1,405,337) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
(204,595) |
(1,405,337) |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
(7,149,460) |
(5,744,123) |
|
---------------- |
---------------- |
|
|
As restated |
(7,149,460) |
(5,744,123) |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(7,354,055) |
(7,149,460) |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(7,354,055) |
(7,149,460) |
|
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
||
|
Others |
- |
2,544 |
|
---------------- |
---------------- |
|
|
- |
2,544 |
|
|
- |
============= |
|
|
LONG TERM INVESTMENTS/OTHER ASSETS |
||
|
Subsidiary companies |
4,355,790 |
4,355,790 |
|
Associated companies |
1,813,440 |
800,383 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
6,169,230 |
5,156,173 |
|
Others |
75,000 |
75,000 |
|
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
75,000 |
75,000 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
6,244,230 |
5,231,173 |
|
Trade debtors |
111,200 |
187,000 |
|
Other debtors, deposits & prepayments |
5,950 |
4,187 |
|
Amount due from associated companies |
389,443 |
- |
|
Cash & bank balances |
161,654 |
698,796 |
|
Others |
- |
1,013,057 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
668,247 |
1,903,040 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
6,912,477 |
7,134,213 |
|
============= |
============= |
|
|
CURRENT LIABILITIES |
||
|
Trade creditors |
91,298 |
4,203 |
|
Other creditors & accruals |
166,234 |
14,220 |
|
Amounts owing to subsidiary companies |
- |
256,250 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
257,532 |
274,673 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
410,715 |
1,628,367 |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
6,654,945 |
6,859,540 |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share capital |
14,009,000 |
14,009,000 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
14,009,000 |
14,009,000 |
|
Retained profit/(loss) carried forward |
(7,354,055) |
(7,149,460) |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
(7,354,055) |
(7,149,460) |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
6,654,945 |
6,859,540 |
|
---------------- |
---------------- |
|
|
6,654,945 |
6,859,540 |
|
|
============= |
============= |
|
|
TYPES OF FUNDS |
||
|
Cash |
161,654 |
698,796 |
|
Net Liquid Funds |
161,654 |
698,796 |
|
Net Liquid Assets |
410,715 |
1,628,367 |
|
Net Current Assets/(Liabilities) |
410,715 |
1,628,367 |
|
Net Tangible Assets |
6,579,945 |
6,784,540 |
|
Net Monetary Assets |
410,715 |
1,628,367 |
|
PROFIT & LOSS ITEMS |
||
|
Earnings Before Interest & Tax (EBIT) |
0 |
0 |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
(204,595) |
(1,402,793) |
|
BALANCE SHEET ITEMS |
||
|
Total Borrowings |
0 |
0 |
|
Total Liabilities |
257,532 |
274,673 |
|
Total Assets |
6,912,477 |
7,134,213 |
|
Net Assets |
6,654,945 |
6,859,540 |
|
Net Assets Backing |
6,654,945 |
6,859,540 |
|
Shareholders' Funds |
6,654,945 |
6,859,540 |
|
Total Share Capital |
14,009,000 |
14,009,000 |
|
Total Reserves |
(7,354,055) |
(7,149,460) |
|
LIQUIDITY (Times) |
||
|
Cash Ratio |
0.63 |
2.54 |
|
Liquid Ratio |
2.59 |
6.93 |
|
Current Ratio |
2.59 |
6.93 |
|
WORKING CAPITAL CONTROL (Days) |
||
|
Stock Ratio |
0 |
0 |
|
Debtors Ratio |
63 |
168 |
|
Creditors Ratio |
52 |
4 |
|
SOLVENCY RATIOS (Times) |
||
|
Gearing Ratio |
0 |
0 |
|
Liabilities Ratio |
0.04 |
0.04 |
|
Times Interest Earned Ratio |
0 |
(551.41) |
|
Assets Backing Ratio |
0.47 |
0.48 |
|
PERFORMANCE RATIO (%) |
||
|
Operating Profit Margin |
(31.63) |
(345.98) |
|
Net Profit Margin |
(31.63) |
(345.98) |
|
Return On Net Assets |
(3.07) |
(20.45) |
|
Return On Capital Employed |
(3.04) |
(20.23) |
|
Return On Shareholders' Funds/Equity |
(3.07) |
(20.49) |
|
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.65.97 |
|
|
1 |
Rs.101.19 |
|
Euro |
1 |
Rs.73.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
ANK |
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.