|
Report No. : |
342600 |
|
Report Date : |
29.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
BERG+SCHMIDT ASIA
PTE. LTD. |
|
|
|
|
Formerly Known As : |
BERG & SCHMIDT ASIA PTE LTD |
|
|
|
|
Registered Office : |
1, International Business Park, 09-04, Synergy, 609917 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
14.10.1995 |
|
|
|
|
Com. Reg. No.: |
199507317-H |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Wholesale of Animal Feed. |
|
|
|
|
No. of Employees : |
23 [2015] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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. |
: |
199507317-H |
|
COMPANY
NAME |
: |
BERG+SCHMIDT
ASIA PTE. LTD. |
|
FORMER
NAME |
: |
BERG
& SCHMIDT ASIA PTE LTD (09/05/2007) |
|
INCORPORATION
DATE |
: |
14/10/1995 |
|
COMPANY
STATUS |
: |
EXIST |
|
LEGAL
FORM |
: |
PRIVATE
LIMITED |
|
LISTED
STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
1,
INTERNATIONAL BUSINESS PARK, 09-04, SYNERGY, 609917, SINGAPORE. |
|
BUSINESS
ADDRESS |
: |
NO.
1 INTERNATIONAL BUSINESS PARK THE SYNERGY # 09-04, 609917, SINGAPORE. |
|
TEL.NO. |
: |
65-67667955 |
|
FAX.NO. |
: |
65-67695066 |
|
WEB
SITE |
: |
WWW.BERG-SCHMIDT.COM.SG |
|
CONTACT
PERSON |
: |
BHAWE
HARSHAWARDHAN VAMAN ( MANAGING DIRECTOR ) |
|
PRINCIPAL
ACTIVITY |
: |
WHOLESALE
OF ANIMAL FEED |
|
ISSUED
AND PAID UP CAPITAL |
: |
3,000,000.00
ORDINARY SHARE, OF A VALUE OF USD 3,000,000.00 |
|
SALES |
: |
USD
108,750,040 [2014] |
|
NET
WORTH |
: |
USD
6,242,854 [2014] |
|
STAFF
STRENGTH |
: |
23
[2015] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL
CONDITION |
: |
LIMITED |
|
PAYMENT |
: |
GOOD |
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL
RISK |
: |
LOW |
|
CURRENCY
EXPOSURE |
: |
MODERATE |
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY
OUTLOOK |
: |
AVERAGE
GROWTH |
HISTORY/
BACKGROUND
|
The Subject is a private limited company and
is allowed to have a minimum of one and a maximum of forty-nine shareholders. As
a private limited company, the Subject must have at least two directors. A
private limited company is a separate legal entity from its shareholders. As a
separate legal entity, the Subject is capable of owning assets, entering into
contracts, sue or be sued by other companies. The liabilities of the
shareholders are to the extent of the equity they have taken up and the
creditors cannot claim on shareholders' personal assets even if the Subject is
insolvent. The Subject is governed by the Companies Act and the company must
file its annual returns, together with its financial statements with the
Registrar of Companies.
The
Subject is principally engaged in the (as a / as an) wholesale of animal feed.
Share
Capital History
|
Date |
Issue
& Paid Up Capital |
|
28/09/2015 |
USD
3,000,000.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
BHAWE
HARSHAWARDHAN VAMAN + |
245,
ORCHARD BOULEVARD, 23-02, ORCHARD BEL AIR, 248648, SINGAPORE. |
S2747397J |
300,000.00 |
10.00 |
|
REITH
ANDREAS KARL + |
AN
DER ALSTER, 81, D-20099, HAMBURG, GERMANY. |
C1T1JH4MF |
300,000.00 |
10.00 |
|
BERG
& SCHMIDT INTERNATIONAL GMBH |
AN
DER ALSTER 81, HAMBURG, 20099, GERMANY. |
T06UF2737 |
2,400,000.00 |
80.00 |
|
--------------- |
------ |
|||
|
3,000,000.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
The
Subject's interest in other companies (Subsidiaries/Associates) are shown as
follow :
|
Local
No |
Country |
Company |
Status |
(%) |
As
At |
|
1059840T |
MALAYSIA |
BERG
& SCHMIDT NUTRITION SDN. BHD. |
- |
100.00 |
31/12/2013 |
DIRECTORS
|
DIRECTOR
1
|
Name
Of Subject |
: |
TORSTEN
WYWIOL |
|
Address |
: |
BILLTAL
9, WOHLTORE, HAMBURG, 21521, GERMANY. |
|
IC
/ PP No |
: |
C1FX3V7FF |
|
Nationality |
: |
GERMAN |
|
Date
of Appointment |
: |
29/10/2012 |
DIRECTOR
2
|
Name
Of Subject |
: |
DIRK
WESTPHAL |
|
Address |
: |
35,
BUKIT BATOK EAST AVENUE 6, 05-21, PARK NATURA, 659765, SINGAPORE. |
|
IC
/ PP No |
: |
G3071863T |
|
Nationality |
: |
GERMAN |
|
Date
of Appointment |
: |
15/06/2014 |
DIRECTOR
3
|
Name
Of Subject |
: |
REITH
ANDREAS KARL |
|
Address |
: |
AN
DER ALSTER, 81, D-20099, HAMBURG, GERMANY. |
|
IC
/ PP No |
: |
C1T1JH4MF |
|
Nationality |
: |
GERMAN |
|
Date
of Appointment |
: |
14/10/1995 |
DIRECTOR
4
|
Name
Of Subject |
: |
BHAWE
HARSHAWARDHAN VAMAN |
|
Address |
: |
245,
ORCHARD BOULEVARD, 23-02, ORCHARD BEL AIR, 248648, SINGAPORE. |
|
IC
/ PP No |
: |
S2747397J |
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
02/12/1996 |
MANAGEMENT
|
|
1)
|
Name
of Subject |
: |
BHAWE
HARSHAWARDHAN VAMAN |
|
Position |
: |
MANAGING
DIRECTOR |
AUDITOR
|
|
Auditor |
: |
MGI
ALLIANCE SINGAPORE PAC |
|
Auditor'
Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1)
|
Company
Secretary |
: |
NANCY
JULIA ZEHNDER |
|
IC
/ PP No |
: |
S0240727B |
|
|
Address |
: |
58,
DAKOTA CRESCENT, 02-257, 390058, SINGAPORE. |
|
BANKING
|
No Banker found in our databank.
ENCUMBRANCE
(S)
|
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
C201206307 |
11/06/2012 |
N/A |
CIMB
BANK BERHAD |
- |
Unsatisfied |
|
C201314277 |
23/10/2013 |
N/A |
DBS
BANK LTD. |
- |
Unsatisfied |
|
C201508064 |
20/07/2015 |
N/A |
RHB
BANK BERHAD |
- |
Unsatisfied |
LITIGATION
CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank againt the Subject whether the subject
has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
PAYMENT
RECORD
|
|
||
|
SOURCES
OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL
PAYMENT HABIT |
||||||||||||||
|
Prompt
0-30 Days |
[ |
] |
Good
31-60 Days |
[ |
X |
] |
Average
61-90 Days |
[ |
] |
|||||
|
Fair
91-120 Days |
[ |
] |
Poor
>120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic
Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export
Market |
: |
ASIA |
|||
|
Credit
Term |
: |
N/A |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods
Traded |
: |
ANIMAL
FEED |
|
|
Total
Number of Employees: |
|||||||||
|
YEAR |
2015 |
2012 |
|||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
23 |
21 |
|||||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) wholesale of animal
feed.
The Subject is engaged in the followings:
* Trading in fats, oleochemicals & animal feeds,
* Procurement of european requirements for feeds,
* Technical support, research and development for all levels of the feed
industry.
CURRENT
INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-67667955 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
N/A |
|
Current
Address |
: |
NO.
1 INTERNATIONAL BUSINESS PARK THE SYNERGY # 09-04, 609917, SINGAPORE. |
|
Match |
: |
N/A |
Other
Investigations
We contacted one of the staff from the Subject and she provided some
information.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2012
- 2014 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Decreased |
[ |
2012
- 2014 |
] |
|
|
Return
on Shareholder Funds |
: |
Unfavourable |
[ |
5.41% |
] |
|
|
Return
on Net Assets |
: |
Unfavourable |
[ |
7.66% |
] |
|
|
The
fluctuating turnover reflects the fierce competition among the existing and new
market players.The dip in profit could be due to the stiff market competition
which reduced the Subject's profit margin. The unfavourable return on
shareholders' funds could indicate that the Subject was inefficient in
utilising its assets to generate returns. |
||||||
|
Working
Capital Control |
||||||
|
Stock
Ratio |
: |
Favourable |
[ |
5
Days |
] |
|
|
Debtor
Ratio |
: |
Favourable |
[ |
35
Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
7
Days |
] |
|
|
The
Subject's stocks were moving fast thus reducing its holding cost. This had
reduced funds being tied up in 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 |
: |
Favourable |
[ |
1.26
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
1.38
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 |
: |
Acceptable |
[ |
3.84
Times |
] |
|
|
Gearing
Ratio |
: |
Favourable |
[ |
0.37
Times |
] |
|
|
The
Subject's interest cover was slightly low. If there is no sharp fall in its
profit or sudden increase in the interest rates, we believe the Subject is able
to generate sufficient income to service its interest and repay the loans.
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 recorded lower profits as its turnover showed a erratic trend. The
Subject's management was unable to control its costs efficiently as its
profit showed a downward trend. 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 had an acceptable interest cover. If there is
no sudden sharp increase in interest rate or fall in the Subject's profit, we
do believe the Subject is able to generate sufficient cash flow to service
its interest payment. 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 : LIMITED |
||||||
SINGAPORE
ECONOMIC / INDUSTRY OUTLOOK
|
|
Major
Economic Indicators : |
2010 |
2011 |
2012 |
2013 |
2014 |
|
|
|||||
|
Population
(Million) |
5.08 |
5.18 |
5.31 |
5.40 |
5.47 |
|
Gross
Domestic Products ( % ) |
14.5 |
4.9 |
1.3 |
3.7 |
(3.5) |
|
Consumer
Price Index |
2.8 |
5.2 |
4.6 |
2.4 |
2.4 |
|
Total
Imports (Million) |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
463,779.1 |
|
Total
Exports (Million) |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
518,922.7 |
|
|
|||||
|
Unemployment
Rate (%) |
2.2 |
2.1 |
2.0 |
1.9 |
1.9 |
|
Tourist
Arrival (Million) |
11.64 |
13.17 |
14.49 |
15.46 |
15.01 |
|
Hotel
Occupancy Rate (%) |
85.6 |
86.5 |
86.4 |
86.3 |
85.5 |
|
Cellular
Phone Subscriber (Million) |
1.43 |
1.50 |
1.52 |
1.97 |
1.98 |
|
|
|||||
|
Registration
of New Companies (No.) |
29,798 |
32,317 |
31,892 |
37,288 |
41,589 |
|
Registration
of New Companies (%) |
12.8 |
8.5 |
(1.3) |
9.8 |
11.5 |
|
Liquidation
of Companies (No.) |
15,126 |
19,005 |
17,218 |
17,369 |
18,767 |
|
Liquidation
of Companies (%) |
(32.5) |
25.6 |
9.4 |
(5.3) |
8.0 |
|
|
|||||
|
Registration
of New Businesses (No.) |
23,978 |
23,494 |
24,788 |
22,893 |
35,773 |
|
Registration
of New Businesses (%) |
(10.78) |
2.02 |
5.51 |
1.70 |
56.30 |
|
Liquidation
of Businesses (No.) |
24,211 |
23,005 |
22,489 |
22,598 |
22,098 |
|
Liquidation
of Businesses (%) |
2.8 |
(5) |
(2.2) |
0.5 |
(2.2) |
|
|
|||||
|
Bankruptcy
Orders (No.) |
1,537 |
1,527 |
1,748 |
1,992 |
1,757 |
|
Bankruptcy
Orders (%) |
(25.3) |
(0.7) |
14.5 |
14.0 |
(11.8) |
|
Bankruptcy
Discharges (No.) |
2,252 |
1,391 |
1,881 |
2,584 |
3,546 |
|
Bankruptcy
Discharges (%) |
(26.3) |
(38.2) |
35.2 |
37.4 |
37.2 |
|
|
|||||
|
INDUSTRIES
( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production
of Principal Crops |
(0.48) |
4.25 |
3.64 |
- |
|
|
Fish
Supply & Wholesale |
(10.5) |
12.10 |
(0.5) |
- |
2.80 |
|
|
|||||
|
Manufacturing
* |
92.8 |
100.0 |
100.3 |
102.0 |
|
|
Food,
Beverages & Tobacco |
96.4 |
100.0 |
103.5 |
103.5 |
105.0 |
|
Textiles |
122.1 |
100.0 |
104.0 |
87.1 |
74.9 |
|
Wearing
Apparel |
123.3 |
100.0 |
92.1 |
77.8 |
49.5 |
|
Leather
Products & Footwear |
81.8 |
100.0 |
98.6 |
109.8 |
95.9 |
|
Wood
& Wood Products |
104.0 |
100.0 |
95.5 |
107.4 |
112.0 |
|
Paper
& Paper Products |
106.1 |
100.0 |
97.4 |
103.2 |
103.4 |
|
Printing
& Media |
103.5 |
100.0 |
93.0 |
86.1 |
80.3 |
|
Crude
Oil Refineries |
95.6 |
100.0 |
99.4 |
93.5 |
85.6 |
|
Chemical
& Chemical Products |
97.6 |
100.0 |
100.5 |
104.1 |
114.0 |
|
Pharmaceutical
Products |
75.3 |
100.0 |
109.7 |
107.2 |
115.7 |
|
Rubber
& Plastic Products |
112.3 |
100.0 |
96.5 |
92.9 |
92.8 |
|
Non-metallic
Mineral |
92.5 |
100.0 |
98.2 |
97.6 |
82.2 |
|
Basic
Metals |
102.2 |
100.0 |
90.6 |
76.5 |
98.3 |
|
Fabricated
Metal Products |
103.6 |
100.0 |
104.3 |
105.1 |
105.1 |
|
Machinery
& Equipment |
78.5 |
100.0 |
112.9 |
114.5 |
124.0 |
|
Electrical
Machinery |
124.1 |
100.0 |
99.3 |
108.5 |
121.3 |
|
Electronic
Components |
113.6 |
100.0 |
90.6 |
94.3 |
95.0 |
|
Transport
Equipment |
94.0 |
100.0 |
106.3 |
107.5 |
103.2 |
|
|
|||||
|
Construction |
14.20 |
20.50 |
28.70 |
- |
22.00 |
|
Real
Estate |
21.3 |
25.4 |
31.9 |
- |
145.1 |
|
|
|||||
|
Services |
|||||
|
Electricity,
Gas & Water |
4.00 |
7.00 |
6.30 |
- |
|
|
Transport,
Storage & Communication |
12.80 |
7.40 |
5.30 |
- |
14.20 |
|
Finance
& Insurance |
(0.4) |
8.90 |
0.50 |
- |
6.00 |
|
Government
Services |
9.70 |
6.90 |
6.00 |
- |
|
|
Education
Services |
(0.9) |
(1.4) |
0.30 |
- |
5.98 |
|
|
|||||
|
*
Based on Index of Industrial Production (2011 = 100) |
INDUSTRY
ANALYSIS
|
|
INDUSTRY
: |
TRADING |
|
The
wholesale and retail trade sectors have expanded by 2.0% in the third quarter
of 2014, extending the 1.8 per cent growth in the previous quarter. In 2013,
the wholesale and retail sector expanded by 5.0%, after declining by 1.4% the
year before. Growth of the sector was driven by the wholesale trade segment. |
|
|
The
domestic wholesale trade index has increased by 3.2% in the fourth quarter of
2013, moderating from the 6.6% growth in the previous quarter. The slower
growth was due to a decline in the sales of furniture and household equipment
(-12%) and petroleum and petroleum products (-0.6%). For the full year, the
domestic wholesale trade index grew by 5.2% reversing the 2.2% decline in
2012. On the other hand, the foreign wholesale trade index has increased by a
slower pace of 5.6% in the fourth quarter, compared to the 7.7% expansion in
the preceding quarter. The slowdown was due to a fall in the sales of
telecommunication equipment and computer (-3.8%) and petroleum and petroleum
products (-2.5%). For the full year, the growth of the foreign wholesale
trade index moderated slightly to 8.6% from 9.1% in the previous year. |
|
|
In
the fourth quarter of 2013, retail sales volume fell by 6.2%, extending the
5.6% decline in the previous quarter. Excluding motor vehicles, retail sales
volume increased by 0.4%, a slower pace of expansion as compared to the 1.6%
gain in the preceding quarter. The sales volume of motor vehicles fell by 33%
in the fourth quarter of 2013, extending the 32% decline in the previous
quarter. Meanwhile, the sales of several discretionary items also fell in the
fourth quarter of 2013. For instance, the sales of telecommunications
apparatus and computers fell by 12%, while the sales of furniture and
household equipment declined by 5.4%. |
|
|
For
the full year, retail sales volume contracted by 4.3%, a reversal from the
1.3% expansion in 2012. Excluding motor vehicle sales, the retail sales
volume grew by 1.1% in 2013, slower than the 1.7% increase in 2012. Watches and
jewellery recorded the largest increase (11%) in sales in 2013, followed by
optical goods and book (3%) and medical goods and toiletries (3%). By
contrast, the sales of telecommunications apparatus and computer (-7.3%),
furniture and household equipment (-4.2%) and petrol service stations (-1.4)
declined in 2013. |
|
|
OVERALL
INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
BERG+SCHMIDT
ASIA PTE. LTD. |
|
Financial
Year End |
2014-12-31 |
2013-12-31 |
2012-12-31 |
|
Months |
12 |
12 |
12 |
|
Consolidated
Account |
Company |
Company |
Company |
|
Audited
Account |
YES |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
|
Financial
Type |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
|
TURNOVER |
108,750,040 |
105,657,371 |
117,321,515 |
|
Other
Income |
548,941 |
532,100 |
695,268 |
|
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
109,298,981 |
106,189,471 |
118,016,783 |
|
Costs
of Goods Sold |
(104,715,903) |
(101,930,330) |
(113,502,377) |
|
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
4,583,078 |
4,259,141 |
4,514,406 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
367,494 |
407,130 |
959,845 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
367,494 |
407,130 |
959,845 |
|
Taxation |
(29,788) |
(18,079) |
(75,032) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
337,706 |
389,051 |
884,813 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As
previously reported |
2,905,148 |
5,910,222 |
5,225,409 |
|
Prior
year adjustment |
- |
(2,194,125) |
- |
|
---------------- |
---------------- |
---------------- |
|
|
As
restated |
2,905,148 |
3,716,097 |
5,225,409 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
3,242,854 |
4,105,148 |
6,110,222 |
|
TRANSFER
TO RESERVES - General |
- |
(1,000,000) |
- |
|
DIVIDENDS
- Ordinary (paid & proposed) |
- |
(200,000) |
(200,000) |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
3,242,854 |
2,905,148 |
5,910,222 |
|
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||
|
Hire
purchase |
9,000 |
5,906 |
5,864 |
|
Trust
receipts |
48,646 |
46,946 |
42,797 |
|
Others |
71,840 |
41,709 |
50,575 |
|
---------------- |
---------------- |
---------------- |
|
|
129,486 |
94,561 |
99,236 |
|
|
============= |
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
136,955 |
107,667 |
105,575 |
|
---------------- |
---------------- |
---------------- |
|
|
136,955 |
107,667 |
105,575 |
|
|
============= |
============= |
============= |
BALANCE
SHEET
|
|
BERG+SCHMIDT
ASIA PTE. LTD. |
|
ASSETS
EMPLOYED: |
|||
|
FIXED
ASSETS |
399,500 |
167,783 |
264,731 |
|
LONG
TERM INVESTMENTS/OTHER ASSETS |
|||
|
Subsidiary
companies |
771,805 |
121,805 |
- |
|
Associated
companies |
664,460 |
664,460 |
2,881,058 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
1,436,265 |
786,265 |
2,881,058 |
|
Others |
173 |
453 |
733 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
INTANGIBLE ASSETS |
173 |
453 |
733 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
1,835,938 |
954,501 |
3,146,522 |
|
Stocks |
1,428,867 |
2,026,252 |
563,889 |
|
Trade
debtors |
10,397,733 |
8,758,715 |
10,073,465 |
|
Other
debtors, deposits & prepayments |
1,606,975 |
524,855 |
667,938 |
|
Short
term deposits |
623,735 |
617,340 |
- |
|
Amount
due from subsidiary companies |
10,638 |
- |
- |
|
Amount
due from related companies |
1,149,643 |
1,429,966 |
2,268,837 |
|
Amount
due from associated companies |
1,355,409 |
546,627 |
1,242,314 |
|
Cash
& bank balances |
107,652 |
130,875 |
8,283,670 |
|
Others |
278,195 |
278,195 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
16,958,847 |
14,312,825 |
23,100,113 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
18,794,785 |
15,267,326 |
26,246,635 |
|
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||
|
Trade
creditors |
2,076,567 |
2,600,779 |
6,448,313 |
|
Other
creditors & accruals |
4,272,155 |
2,766,527 |
3,235,945 |
|
Short
term borrowings/Term loans |
2,062,800 |
2,564,994 |
2,396,109 |
|
Deposits
from customers |
267,146 |
99,042 |
55,083 |
|
Amounts
owing to subsidiary companies |
13,404 |
- |
- |
|
Amounts
owing to related companies |
733,971 |
599,472 |
873,058 |
|
Amounts
owing to associated companies |
2,769,256 |
511,640 |
4,659,159 |
|
Provision
for taxation |
46,843 |
30,520 |
125,499 |
|
Lease
payables |
68,598 |
28,458 |
27,829 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
12,310,740 |
9,201,432 |
17,820,995 |
|
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
4,648,107 |
5,111,393 |
5,279,118 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
6,484,045 |
6,065,894 |
8,425,640 |
|
============= |
============= |
============= |
|
|
SHARE
CAPITAL |
|||
|
Ordinary
share capital |
3,000,000 |
3,000,000 |
2,000,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
3,000,000 |
3,000,000 |
2,000,000 |
|
Exchange
equalisation/fluctuation reserve |
- |
- |
344,196 |
|
Retained
profit/(loss) carried forward |
3,242,854 |
2,905,148 |
5,910,222 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
3,242,854 |
2,905,148 |
6,254,418 |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
6,242,854 |
5,905,148 |
8,254,418 |
|
Lease
obligations |
238,779 |
132,223 |
157,201 |
|
Deferred
taxation |
2,412 |
28,523 |
14,021 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
241,191 |
160,746 |
171,222 |
|
---------------- |
---------------- |
---------------- |
|
|
6,484,045 |
6,065,894 |
8,425,640 |
|
|
============= |
============= |
============= |
FINANCIAL
RATIO
|
|
BERG+SCHMIDT
ASIA PTE. LTD. |
|
TYPES
OF FUNDS |
|||
|
Cash |
731,387 |
748,215 |
8,283,670 |
|
Net
Liquid Funds |
731,387 |
748,215 |
8,283,670 |
|
Net
Liquid Assets |
3,219,240 |
3,085,141 |
4,715,229 |
|
Net
Current Assets/(Liabilities) |
4,648,107 |
5,111,393 |
5,279,118 |
|
Net
Tangible Assets |
6,483,872 |
6,065,441 |
8,424,907 |
|
Net
Monetary Assets |
2,978,049 |
2,924,395 |
4,544,007 |
|
PROFIT
& LOSS ITEMS |
|||
|
Earnings
Before Interest & Tax (EBIT) |
496,980 |
501,691 |
0 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
633,935 |
609,358 |
1,164,656 |
|
BALANCE
SHEET ITEMS |
|||
|
Total
Borrowings |
2,301,579 |
2,697,217 |
2,553,310 |
|
Total
Liabilities |
12,551,931 |
9,362,178 |
17,992,217 |
|
Total
Assets |
18,794,785 |
15,267,326 |
26,246,635 |
|
Net
Assets |
6,484,045 |
6,065,894 |
8,425,640 |
|
Net
Assets Backing |
6,242,854 |
5,905,148 |
8,254,418 |
|
Shareholders'
Funds |
6,242,854 |
5,905,148 |
8,254,418 |
|
Total
Share Capital |
3,000,000 |
3,000,000 |
2,000,000 |
|
Total
Reserves |
3,242,854 |
2,905,148 |
6,254,418 |
|
LIQUIDITY
(Times) |
|||
|
Cash
Ratio |
0.06 |
0.08 |
0.46 |
|
Liquid
Ratio |
1.26 |
1.34 |
1.26 |
|
Current
Ratio |
1.38 |
1.56 |
1.30 |
|
WORKING
CAPITAL CONTROL (Days) |
|||
|
Stock
Ratio |
5 |
7 |
2 |
|
Debtors
Ratio |
35 |
30 |
31 |
|
Creditors
Ratio |
7 |
9 |
21 |
|
SOLVENCY
RATIOS (Times) |
|||
|
Gearing
Ratio |
0.37 |
0.46 |
0.31 |
|
Liabilities
Ratio |
2.01 |
1.59 |
2.18 |
|
Times
Interest Earned Ratio |
3.84 |
5.31 |
10.67 |
|
Assets
Backing Ratio |
2.16 |
2.02 |
4.21 |
|
PERFORMANCE
RATIO (%) |
|||
|
Operating
Profit Margin |
0.34 |
0.39 |
0.82 |
|
Net
Profit Margin |
0.31 |
0.37 |
0.75 |
|
Return
On Net Assets |
7.66 |
8.27 |
12.57 |
|
Return
On Capital Employed |
7.66 |
8.27 |
12.57 |
|
Return
On Shareholders' Funds/Equity |
5.41 |
6.59 |
10.72 |
|
Dividend
Pay Out Ratio (Times) |
0 |
0.51 |
0.23 |
|
NOTES
TO ACCOUNTS |
|||
|
Contingent
Liabilities |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.08 |
|
|
1 |
Rs.100.32 |
|
Euro |
1 |
Rs.73.81 |
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major sections
of this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.