MIRA INFORM REPORT

 

 

 

 

Report No. :

342924

Report Date :

24.09.2015

           

IDENTIFICATION DETAILS

 

Name :

VISA BULK SHIPPING PTE. LTD.

 

 

Formerly Known As :

DRY BULK CHARTERING PTE. LTD.

 

 

Registered Office :

61, Robinson Road, 17-01A, Robinson Centre, 068893

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

17.10.2007

 

 

Com. Reg. No.:

200719310-E

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Chartering of Ships, Barges and Boats with Crew (Freight).

 

 

No. of Employees :

2 [2015]

 

 

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. The economy contracted 0.6% in 2009 as a result of the global financial crisis, but rebounded 15.1% in 2010, on the strength of renewed exports, before slowing to in 2011-13, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub.

 

Source : CIA

 

 

EXECUTIVE SUMMARY

 

 

REGISTRATION NO.

:

200719310-E

COMPANY NAME

:

VISA BULK SHIPPING PTE. LTD.

FORMER NAME

:

DRY BULK CHARTERING PTE. LTD. (23/01/2009)

INCORPORATION DATE

:

17/10/2007

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

61, ROBINSON ROAD, 17-01A, ROBINSON CENTRE, 068893, SINGAPORE.

BUSINESS ADDRESS

:

61, ROBINSON ROAD, 17-01A, ROBINSON CENTRE, 068893, SINGAPORE.

TEL.NO.

:

65-64359000

FAX.NO.

:

N/A

CONTACT PERSON

:

VIVEK AGARWAL ( DIRECTOR )

PRINCIPAL ACTIVITY

:

CHARTERING OF SHIPS, BARGES AND BOATS WITH CREW (FREIGHT)

ISSUED AND PAID UP CAPITAL

:

10,000.00 ORDINARY SHARE, OF A VALUE OF SGD 10,000.00

SALES

:

USD 33,145,287 [2012]

NET WORTH

:

USD (1,769,750) [2012]

STAFF STRENGTH

:

2 [2015]

LITIGATION

:

TRACED

FINANCIAL CONDITION

:

POOR

PAYMENT

:

AVERAGE

MANAGEMENT CAPABILITY

:

WEAK

COMMERCIAL RISK

:

N/A

CURRENCY EXPOSURE

:

N/A

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

MARGINAL 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) chartering of ships, barges and boats with crew (freight).

 

The immediate holding company of the Subject is VISA GROUP LIMITED, a company incorporated in SINGAPORE.

 

Share Capital History

Date

Issue & Paid Up Capital

23/01/2015

SGD 10,000.00

 

The major shareholder(s) of the Subject are shown as follows :

 

Name

Address

IC/PP/Loc No

Shareholding

(%)

VISA GROUP LIMITED

61, ROBINSON ROAD, 17-01A, ROBINSON CENTRE, 068893, SINGAPORE.

200911321E

10,000.00

100.00

---------------

------

10,000.00

100.00

============

=====

+ Also Director



DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

VIVEK AGARWAL

Address

:

10, DRAYCOTT PARK, 16-08, DRAYCOTT EIGHT, 259405, SINGAPORE.

IC / PP No

:

G5935678Q

Nationality

:

INDIAN

Date of Appointment

:

17/10/2007

 

DIRECTOR 2

 

Name Of Subject

:

ABHISHEK AGARWAL

Address

:

11, BEDOK RESERVOIR VIEW, 15-02, AQUARIUS BY THE PARK, 478931, SINGAPORE.

IC / PP No

:

S8062633I

Nationality

:

SINGAPOREAN

Date of Appointment

:

14/09/2010


MANAGEMENT



1)

Name of Subject

:

VIVEK AGARWAL

Position

:

DIRECTOR

 

 

AUDITOR

 

 

Auditor

:

CASEY LIN & COMPANY

Auditor' Address

:

N/A

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

MR. LUK CHIEW PENG

IC / PP No

:

S6970685A

Address

:

6, MARTIN PLACE, 31-11, MARTIN PLACE RESIDENCES, 237990, SINGAPORE.

 

 

 

BANKING


No Banker found in our databank.

 

 

ENCUMBRANCE (S)


No encumbrance was found in our databank at the time of investigation.

 

 

LITIGATION CHECK AGAINST SUBJECT


* A check has been conducted in our databank against the Subject whether the subject has been involved in any litigation.

 

LEGAL ACTION

 

 

Code No

:

99

Case No

:

851

Year

:

2011

Place

:

SINGAPORE

Court

:

SUPREME COURT

Date Filed

:

24/11/2011

Solicitor Ref

:

GWS.JN.1179.11.11

Solicitor Firm

:

W S GOH & CO.

Plaintiff

:

UNITED BUNKERING & TRADING (ASIA) PTE. LTD.

Defendants

:

VISA BULK SHIPPING PTE. LTD. (200719310)

Amount Claimed

:

700892.04

33642.82

Nature of Claim

:

USD

USD

Remark

:

OTHERS / MISCELLANEOUS

Code No

:

99

Case No

:

20361

Year

:

2014

Place

:

SINGAPORE

Court

:

MAGISTRATE COURT

Date Filed

:

29/10/2014

Solicitor

:

TAN JET WAH DEREK

Solicitor Ref

:

DTJW/MNWP/20132344

Solicitor Firm

:

WONGPARTNERSHIP LLP

Plaintiff

:

PT. SENTOSA LAJU ENERGY

Defendants

:

VISA BULK SHIPPING PTE. LTD. (200719310)

Amount Claimed

:

16653.67

Nature of Claim

:

USD

 

No winding up petition was found in our databank

 

PAYMENT RECORD

 

 

SOURCES OF RAW MATERIALS:

Local

:

N/A

Overseas

:

N/A


The Subject is a service provider.

OVERALL PAYMENT HABIT

Prompt 0-30 Days

[

]

Good 31-60 Days

[

]

Average 61-90 Days

[

X

]

Fair 91-120 Days

[

]

Poor >120 Days

[

]

 

 

CLIENTELE

 

Local

:

N/A

Overseas

:

N/A


The staff from the registered office refused to disclose the Subject's clientele.

 

 

OPERATIONS

 

Services

:

CHARTERING OF SHIPS, BARGES AND BOATS WITH CREW (FREIGHT)

 

Total Number of Employees:

YEAR

2015

2014

GROUP

N/A

N/A

COMPANY

2

2

 

Branch

:

NO

 

Other Information:


The Subject is principally engaged in the (as a / as an) chartering of ships, barges and boats with crew (freight).


The staff from the registered office refused to disclose the Subject's operation.

 

 

CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that:

 

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

65-64359000

Match

:

N/A

Address Provided by Client

:

N/A

Current Address

:

61, ROBINSON ROAD, 17-01A, ROBINSON CENTRE, 068893, SINGAPORE.

Match

:

N/A

 

Other Investigations


We contacted one of the staff from the registered office and she only provided limited information.


She refused to disclose the Subject's fax and number of employees.


FINANCIAL ANALYSIS

 

 

Profitability

Turnover

:

Decreased

[

2009 - 2012

]

Profit/(Loss) Before Tax

:

Decreased

[

2009 - 2012

]

Return on Shareholder Funds

:

Unfavourable

[

(55.30%)

]

Return on Net Assets

:

Unfavourable

[

(55.30%)

]

The continuous fall in turnover could be due to the lower demand for the Subject's products / services.The management had succeeded in turning the Subject into a profit making company. The profit could be due to better control of its operating costs and efficiency in utilising its resources. 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

:

Favourable

[

7 Days

]

Creditors Ratio

:

Favourable

[

44 Days

]

As the Subject is a service oriented company, the Subject does not need to keep stocks. 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

[

0.53 Times

]

Current Ratio

:

Unfavourable

[

0.53 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

:

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 decreased, its losses also decreased during the year. This could be the result of more efficient control in its operating costs. 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 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

 

 

 

SINGAPORE ECONOMIC / INDUSTRY OUTLOOK

 

 

Major Economic Indicators :

2009

2010

2011

2012

2013

 

Population (Million)

4.98

5.08

5.18

5.31

5.40

Gross Domestic Products ( % )

(0.8)

14.5

4.9

1.3

3.7

Consumer Price Index

0.6

2.8

5.2

4.6

2.4

Total Imports (Million)

356,299.3

423,221.8

459,655.1

474,554.0

466,762.0

Total Exports (Million)

391,118.1

478,840.7

514,741.2

510,329.0

513,391.0

 

Unemployment Rate (%)

3.2

2.2

2.1

2.0

1.9

Tourist Arrival (Million)

9.68

11.64

13.17

14.49

15.46

Hotel Occupancy Rate (%)

75.8

85.6

86.5

86.4

86.3

Cellular Phone Subscriber (Million)

1.37

1.43

1.50

1.52

1.97

 

Registration of New Companies (No.)

26,414

29,798

32,317

31,892

37,288

Registration of New Companies (%)

4.3

12.8

8.5

(1.3)

9.8

Liquidation of Companies (No.)

22,393

15,126

19,005

17,218

17,369

Liquidation of Companies (%)

113.4

(32.5)

25.6

9.4

(5.3)

 

Registration of New Businesses (No.)

26,876

23,978

23,494

24,788

22,893

Registration of New Businesses (%)

8.15

(10.78)

2.02

5.51

1.70

Liquidation of Businesses (No.)

23,552

24,211

23,005

22,489

22,598

Liquidation of Businesses (%)

11.4

2.8

(5)

(2.2)

0.5

 

Bankruptcy Orders (No.)

2,058

1,537

1,527

1,748

1,992

Bankruptcy Orders (%)

(11.5)

(25.3)

(0.7)

14.5

14.0

Bankruptcy Discharges (No.)

3,056

2,252

1,391

1,881

2,584

Bankruptcy Discharges (%)

103.7

(26.3)

(38.2)

35.2

37.4

 

INDUSTRIES ( % of Growth ) :

Agriculture

Production of Principal Crops

3.25

(0.48)

4.25

3.64

-

Fish Supply & Wholesale

(1.93)

(10.5)

12.10

(0.5)

-

 

Manufacturing *

71.5

92.8

100.0

100.3

102.0

Food, Beverages & Tobacco

90.4

96.4

100.0

103.5

103.5

Textiles

145.9

122.1

100.0

104.0

87.1

Wearing Apparel

211.0

123.3

100.0

92.1

77.8

Leather Products & Footwear

79.5

81.8

100.0

98.6

109.8

Wood & Wood Products

101.4

104.0

100.0

95.5

107.4

Paper & Paper Products

95.4

106.1

100.0

97.4

103.2

Printing & Media

100.9

103.5

100.0

93.0

86.1

Crude Oil Refineries

96.4

95.6

100.0

99.4

93.5

Chemical & Chemical Products

80.3

97.6

100.0

100.5

104.1

Pharmaceutical Products

49.1

75.3

100.0

109.7

107.2

Rubber & Plastic Products

101.2

112.3

100.0

96.5

92.9

Non-metallic Mineral

91.9

92.5

100.0

98.2

97.6

Basic Metals

92.6

102.2

100.0

90.6

76.5

Fabricated Metal Products

90.8

103.6

100.0

104.3

105.1

Machinery & Equipment

57.3

78.5

100.0

112.9

114.5

Electrical Machinery

86.8

124.1

100.0

99.3

108.5

Electronic Components

85.2

113.6

100.0

90.6

94.3

Transport Equipment

96.0

94.0

100.0

106.3

107.5

 

Construction

(36.9)

14.20

20.50

28.70

-

Real Estate

1.4

21.3

25.4

31.9

-

 

Services

Electricity, Gas & Water

1.70

4.00

7.00

6.30

-

Transport, Storage & Communication

3.90

12.80

7.40

5.30

-

Finance & Insurance

(16.4)

(0.4)

8.90

0.50

-

Government Services

4.50

9.70

6.90

6.00

-

Education Services

0.10

(0.9)

(1.4)

0.30

-

 

* Based on Index of Industrial Production (2011 = 100)

 

INDUSTRY ANALYSIS

 

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



CREDIT RISK EVALUATION & RECOMMENDATION

 


Incorporated in 2007, the Subject is a Private Limited company, focusing on chartering of ships, barges and boats with crew (freight). Having been in business for more than 5 years, the Subject has established a remarkable clientele base for itself which has contributed to its business growth. The Subject have a strong support from its holding company. However, the Subject does not have a strong capital position of SGD 10,000. Without a strong capital, the Subject may face difficulties to expand its business compared to other large corporation.

Being a small company, the Subject's business operation is supported by 2 employees. We regard that the Subject's management capability is weak. Without capable management, the Subject is unlikely to be successful and often contribute to unacceptable levels of accountability. Weak management can affect productivity, profitability, sales growth and ultimately can result in the failure of a business.

Despite the lower turnover, the Subject's pre-tax profit have increased compared to the previous year. The higher profit could be due to better control of its operating costs and efficiency in utilising its resources. The Subject has generated an unfavourable return on shareholders' funds indicating that the management was inefficient in utilising its funds to generate return. Due to its weak liquidity position, the Subject may face working capital deficiency in meeting its short term financial obligations if no fresh capital are injected into the Subject. Being a zero geared company, the Subject virtually has no financial risk as it is mainly dependent on its internal funds to finance its business. The Subject's unfavourable financial performance over the years has wiped out its shareholders' funds to a deficit of USD -1,769,750. Therefore, the Subject as a going concern is much dependent on its ability to generate sufficient cash flow and obtain additional financing to meet its future obligations.

Without a strong assets backing, the Subject may face difficulties in getting loans for its future expansion and continued growth .

The Subject's payment habit is average. With its adequate working capital, the Subject should be able to pay its short term debts.

The industry has reached its maturity stage and only enjoying a marginal growth. The steady growth of the country's economy will further enhance the industry activities. Thus, the Subject's future performance is very much depend on its marketing strategies in order to retain its position in the market.

Based on the above unfavourable condition, we regard granting credit to the Subject to be quite risky. Hence, credit is not recommended.

 



PROFIT AND LOSS ACCOUNT

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS.

VISA BULK SHIPPING PTE. LTD.

 

Financial Year End

2012-03-31

2011-03-31

2010-03-31

2009-03-31

Months

12

12

12

12

Consolidated Account

Company

Company

Company

Company

Audited Account

YES

YES

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

YES

YES

Financial Type

FULL

FULL

SUMMARY

SUMMARY

Currency

USD

USD

SGD

SGD

TURNOVER

33,145,287

46,248,926

62,454,123

7,737,739

----------------

----------------

----------------

----------------

Total Turnover

33,145,287

46,248,926

62,454,123

7,737,739

Costs of Goods Sold

(31,588,091)

(45,316,392)

-

-

----------------

----------------

----------------

----------------

Gross Profit

1,557,196

932,534

-

-

----------------

----------------

----------------

----------------

PROFIT/(LOSS) FROM OPERATIONS

978,594

(3,386,173)

1,336,492

420,188

----------------

----------------

----------------

----------------

PROFIT/(LOSS) BEFORE TAXATION

978,594

(3,386,173)

1,336,492

420,188

Taxation

0

0

(221,463)

(22,832)

----------------

----------------

----------------

----------------

PROFIT/(LOSS) AFTER TAXATION

978,594

(3,386,173)

1,115,030

397,356

----------------

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

(2,755,164)

631,009

(484,021)

(881,377)

----------------

----------------

----------------

----------------

As restated

(2,755,164)

631,009

(484,021)

(881,377)

----------------

----------------

----------------

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

(1,776,570)

(2,755,164)

631,009

(484,021)

----------------

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

(1,776,570)

(2,755,164)

631,009

(484,021)

=============

=============

=============

=============

 

                                                                                                                                              

 

BALANCE SHEET

 

 

VISA BULK SHIPPING PTE. LTD.

 

ASSETS EMPLOYED:

FIXED ASSETS

-

-

0

0

Trade debtors

671,848

2,706,103

-

-

Other debtors, deposits & prepayments

471,347

558,092

-

-

Cash & bank balances

889,298

91,029

-

-

----------------

----------------

----------------

----------------

TOTAL CURRENT ASSETS

2,032,493

3,355,224

5,147,821

1,229,619

----------------

----------------

----------------

----------------

TOTAL ASSET

2,032,493

3,355,224

5,147,821

1,229,619

=============

=============

=============

=============

CURRENT LIABILITIES

Trade creditors

3,765,624

4,431,040

-

-

Other creditors & accruals

36,619

279,965

-

-

Amounts owing to holding company

-

750,000

-

-

Provision for taxation

-

14,890

-

-

Other liabilities

-

627,673

-

-

----------------

----------------

----------------

----------------

TOTAL CURRENT LIABILITIES

3,802,243

6,103,568

4,340,649

826,099

----------------

----------------

----------------

----------------

NET CURRENT ASSETS/(LIABILITIES)

(1,769,750)

(2,748,344)

807,172

403,520

----------------

----------------

----------------

----------------

TOTAL NET ASSETS

(1,769,750)

(2,748,344)

807,172

403,520

=============

=============

=============

=============

SHARE CAPITAL

Ordinary share capital

6,820

6,820

10,000

10,000

----------------

----------------

----------------

----------------

TOTAL SHARE CAPITAL

6,820

6,820

10,000

10,000

Retained profit/(loss) carried forward

(1,776,570)

(2,755,164)

631,009

(484,021)

Others

-

-

166,163

877,541

----------------

----------------

----------------

----------------

TOTAL RESERVES

(1,776,570)

(2,755,164)

797,172

393,520

----------------

----------------

----------------

----------------

SHAREHOLDERS' FUNDS/EQUITY

(1,769,750)

(2,748,344)

807,172

403,520

TOTAL LONG TERM LIABILITIES

-

-

0

0

----------------

----------------

----------------

----------------

(1,769,750)

(2,748,344)

807,172

403,520

=============

=============

=============

=============

 

FINANCIAL RATIO

 

 

VISA BULK SHIPPING PTE. LTD.

 

TYPES OF FUNDS

Cash

889,298

91,029

-

-

Net Liquid Funds

889,298

91,029

-

-

Net Liquid Assets

(1,769,750)

(2,748,344)

807,172

403,520

Net Current Assets/(Liabilities)

(1,769,750)

(2,748,344)

807,172

403,520

Net Tangible Assets

(1,769,750)

(2,748,344)

807,172

403,520

Net Monetary Assets

(1,769,750)

(2,748,344)

807,172

403,520

BALANCE SHEET ITEMS

Total Borrowings

0

0

-

-

Total Liabilities

3,802,243

6,103,568

4,340,649

826,099

Total Assets

2,032,493

3,355,224

5,147,821

1,229,619

Net Assets

(1,769,750)

(2,748,344)

807,172

403,520

Net Assets Backing

(1,769,750)

(2,748,344)

807,172

403,520

Shareholders' Funds

(1,769,750)

(2,748,344)

807,172

403,520

Total Share Capital

6,820

6,820

10,000

10,000

Total Reserves

(1,776,570)

(2,755,164)

797,172

393,520

LIQUIDITY (Times)

Cash Ratio

0.23

0.01

-

-

Liquid Ratio

0.53

0.55

-

-

Current Ratio

0.53

0.55

1.19

1.49

WORKING CAPITAL CONTROL (Days)

Stock Ratio

0

0

-

-

Debtors Ratio

7

21

-

-

Creditors Ratio

44

36

-

-

SOLVENCY RATIOS (Times)

Gearing Ratio

0.00

0.00

-

-

Liabilities Ratio

(2.15)

(2.22)

5.38

2.05

Times Interest Earned Ratio

0.00

0.00

-

-

Assets Backing Ratio

(259.49)

(402.98)

80.72

40.35

PERFORMANCE RATIO (%)

Operating Profit Margin

2.95

(7.32)

2.14

5.43

Net Profit Margin

2.95

(7.32)

1.79

5.14

Return On Net Assets

(55.30)

123.21

165.58

104.13

Return On Capital Employed

(55.30)

123.21

165.58

104.13

Return On Shareholders' Funds/Equity

(55.30)

123.21

138.14

98.47

Dividend Pay Out Ratio (Times)

0.00

0.00

-

-

NOTES TO ACCOUNTS

Contingent Liabilities

0

0

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.97

UK Pound

1

Rs.101.19

Euro

1

Rs.73.38

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

ANK

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.