|
|
|
MIRA INFORM REPORT
|
Report No. : |
501071 |
|
Report Date : |
03.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
QUALITY AMENITIES
SUPPLY PTE. LTD. |
|
|
|
|
Registered Office : |
5A, Toh Guan Road East, 03-03m, CWT Jurong
East Logistics Centre, 608830 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
09.02.2004 |
|
|
|
|
Com. Reg. No.: |
200401411K |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the
trading of hotel & motel equipment. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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. Growth in 2014-17 was slower than
during the previous decade, at under 3% annually, 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 growth,
and increasing Singaporean wages. Singapore has attracted major investments in
advanced manufacturing, pharmaceuticals, and medical technology production and
will continue efforts to strengthen its position as Southeast Asia's leading
financial and technology hub. Singapore is a member of the Regional
Comprehensive Economic Partnership negotiations with the nine other ASEAN
members plus Australia, China, India, Japan, South Korea, and New Zealand. In
2015, Singapore formed, with the other ASEAN members, the ASEAN Economic
Community.
|
Source
: CIA |
EXECUTIVE SUMMARY
|
|
REGISTRATION NO. |
: |
200401411K |
||||
|
COMPANY NAME |
: |
QUALITY AMENITIES SUPPLY PTE. LTD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
09/02/2004 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
5A, TOH GUAN ROAD EAST, 03-03M, CWT JURONG
EAST LOGISTICS CENTRE, 608830, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
5A TOH GUAN ROAD EAST #03-03M CWT JURONG
EAST LOGISTICS CENTRE, 608830, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-62736718 |
||||
|
FAX.NO. |
: |
65-62788443 |
||||
|
CONTACT PERSON |
: |
TAN LIAN KHIM ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF HOTEL & MOTEL EQUIPMENT |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
100,000.00 ORDINARY SHARE, OF A VALUE OF
SGD 100,000.00 |
||||
|
SALES |
: |
SGD 12,868,415 [2016] |
||||
|
NET WORTH |
: |
SGD 3,280,763 [2016] |
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
REGULAR |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
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) trading of hotel & motel equipment.
The immediate holding company of the Subject
is MING FAI ASIA PACIFIC COMPANY LIMITED, a company incorporated in HONG KONG.
The ultimate holding company of the Subject
is MING FAI INTERNATIONAL HOLDINGS LTD, a company incorporated in CAYMAN
ISLANDS.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
02/04/2018 |
SGD 100,000.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MING FAI ASIA PACIFIC COMPANY LIMITED |
SUITE 501-502, 5TH FLOOR, LOW BLOCK, GRAND
MILLENNIUM PLAZA, 181, QUEEN'S ROAD CENTRAL HONG KONG |
T07UF2532 |
100,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
100,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
TAN LIAN KHIM |
|
Address |
: |
5, TIONG BAHRU ROAD, 01-17, 162005,
SINGAPORE. |
|
IC / PP No |
: |
S1742679F |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
09/02/2004 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
200401411K |
QUALITY AMENITIES SUPPLY PTE. LTD. |
Director |
09/02/2004 |
0.00 |
- |
SGD517,424.00 |
2016 |
- |
02/04/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
LIU ZIGANG |
|
Address |
: |
4C, 8 BUILDING, ZHONG HAI YUAN, SINOLINK GARDEN,
28, TAI NING ROAD, LUO HU DISTRICT, SHENZHEN, 518020, CHINA. |
|
IC / PP No |
: |
G00449256 |
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
09/02/2004 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
200401411K |
QUALITY AMENITIES SUPPLY PTE. LTD. |
Director |
09/02/2004 |
0.00 |
- |
SGD517,424.00 |
2016 |
- |
02/04/2018 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
TAN LIAN KHIM |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
CHRISTOPHE R CHAN & ASSOCIATES |
|
Auditor' Address |
: |
N/A |
|
|
|
|
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
DENNIS PAUL LUI YEW LEE |
|
IC / PP No |
: |
S1607063G |
|
|
Address |
: |
36, SOO CHOW RISE, SOO CHOW GARDEN, 575477,
SINGAPORE. |
|
|
|
|
|
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
UNITED OVERSEAS BANK LIMITED |
ENCUMBRANCE (S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C200606079 |
08/09/2006 |
N/A |
UNITED OVERSEAS BANK LIMITED |
- |
Unsatisfied |
CIVIL LITIGATION CHECK - SUBJECT COMPANY AS A
DEFENDANT
|
* A check has been conducted in our databank against 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 supplier information.
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 |
Percentage |
: |
100% |
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
NO |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
HOTEL & MOTEL EQUIPMENT |
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of hotel &
motel equipment.
The Subject sells the products based on customer's demands and
requirement.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on the
Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62736718 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
11 CLEMENTI LOOP SINGAPORE |
|
Current Address |
: |
5A TOH GUAN ROAD EAST #03-03M CWT JURONG
EAST LOGISTICS CENTRE, 608830, SINGAPORE. |
|
Match |
: |
NO |
Other Investigations
We have contacted one of the staff from the Subject and she provided some
information.
The address provided belongs to the Subject's former business address.
The Subject refused to disclose its number of employees and banker information.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2011 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2011 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
15.77% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
17.98% |
] |
|
|
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 Subject's management had generated acceptable
return for its shareholders using its assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
26 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
68 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
9 Days |
] |
|
|
The Subject's stocks were moving fast thus
reducing its holding cost. This had reduced funds being tied up in stocks.
The high debtors' ratio could indicate that the Subject was weak in its
credit control. However, the Subject could also giving longer credit periods
to its customers in order to boost its sales or to capture / retain its
market share. 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 |
[ |
1.61 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.86 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 |
: |
Favourable |
[ |
34.37 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.01 Times |
] |
|
|
The interest cover showed that the Subject was
able to service the interest. The favourable interest cover could indicate
that the Subject was making enough profit to pay for the interest accrued.
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. With the favourable
interest cover, the Subject could be able to service all the accrued interest
without facing any difficulties. 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
: STRONG |
||||||
|
|
||||||
SINGAPORE ECONOMIC / INDUSTRY OUTLOOK
|
|
Major Economic Indicators : |
2013 |
2014 |
2015 |
2016 |
2017* |
|
|
|||||
|
Population (Million) |
5.40 |
5.47 |
5.54 |
5.61 |
5.61 |
|
Gross Domestic Products ( % ) |
5.1 |
3.9 |
2.2 |
2.4 |
3.6 |
|
Consumer Price Index |
2.4 |
1.0 |
(0.5) |
(0.5) |
0.6 |
|
Total Imports (Million) |
466,762.0 |
463,779.1 |
407,767.9 |
398,372.0 |
403,300.0 |
|
Total Exports (Million) |
513,391.0 |
518,922.7 |
476,285.4 |
468,552.0 |
466,900.0 |
|
|
|||||
|
Unemployment Rate (%) |
1.9 |
1.9 |
1.9 |
2.1 |
- |
|
Tourist Arrival (Million) |
15.46 |
15.01 |
15.23 |
16.28 |
- |
|
Hotel Occupancy Rate (%) |
86.3 |
85.5 |
84.0 |
83.1 |
84.7 |
|
Cellular Phone Subscriber (Million) |
1.97 |
1.98 |
1.99 |
- |
- |
|
|
|||||
|
Registration of New Companies (No.) |
37,288 |
41,589 |
34,243 |
35,227 |
37,395 |
|
Registration of New Companies (%) |
9.8 |
11.5 |
(17.7) |
2.9 |
6.2 |
|
Liquidation of Companies (No.) |
17,369 |
18,767 |
21,384 |
23,218 |
22,379 |
|
Liquidation of Companies (%) |
(5.3) |
8.0 |
13.9 |
8.6 |
(3.6) |
|
|
|||||
|
Registration of New Businesses (No.) |
22,893 |
35,773 |
28,480 |
27,120 |
22,148 |
|
Registration of New Businesses (%) |
1.70 |
56.30 |
(20.39) |
(4.78) |
(18.33) |
|
Liquidation of Businesses (No.) |
22,598 |
22,098 |
26,116 |
35,866 |
24,344 |
|
Liquidation of Businesses (%) |
0.5 |
(2.2) |
18.2 |
37.3 |
(32.1) |
|
|
|||||
|
Bankruptcy Orders (No.) |
1,992 |
1,757 |
1,776 |
1,797 |
1,638 |
|
Bankruptcy Orders (%) |
14.0 |
(11.8) |
1.0 |
1.2 |
(8.9) |
|
Bankruptcy Discharges (No.) |
2,584 |
3,546 |
3,499 |
4,359 |
2,030 |
|
Bankruptcy Discharges (%) |
37.4 |
37.2 |
(1.3) |
24.6 |
(53.4) |
|
|
|||||
|
INDUSTRIES ( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production of Principal Crops |
1.78 |
4.29 |
3.04 |
- |
- |
|
Fish Supply & Wholesale |
(3.8) |
(8.6) |
(8.5) |
(9.9) |
- |
|
|
|||||
|
Manufacturing # |
|||||
|
Food, Beverages & Tobacco |
97.9 |
99.4 |
100.0 |
103.7 |
110.3 |
|
Textiles |
119.5 |
102.7 |
100.0 |
92.4 |
84.4 |
|
Wearing Apparel |
334.1 |
212.6 |
100.0 |
83.4 |
88.2 |
|
Leather Products & Footwear |
122.0 |
106.5 |
100.0 |
88.8 |
79.0 |
|
Wood & Wood Products |
103.0 |
107.2 |
100.0 |
95.0 |
92.9 |
|
Paper & Paper Products |
104.4 |
104.5 |
100.0 |
97.3 |
96.1 |
|
Printing & Media |
113.8 |
105.968 |
100.0 |
85.1 |
73.1 |
|
Crude Oil Refineries |
100.7 |
92.2 |
100.0 |
104.2 |
113.5 |
|
Chemical & Chemical Products |
88.4 |
96.7 |
100.0 |
98.9 |
105.3 |
|
Pharmaceutical Products |
101.421 |
109.4 |
100.0 |
113.8 |
96.0 |
|
Rubber & Plastic Products |
109.497 |
109.2 |
100.0 |
91.4 |
93.7 |
|
Non-metallic Mineral |
107.4 |
90.759 |
100.0 |
89.8 |
72.9 |
|
Basic Metals |
77.2 |
99.3 |
100.0 |
106.2 |
108.3 |
|
Fabricated Metal Products |
107.5 |
107.757 |
100.0 |
93.8 |
91.3 |
|
Machinery & Equipment |
109.1 |
118.2 |
100.0 |
80.8 |
86.1 |
|
Electrical Machinery |
87.4 |
97.871 |
100.0 |
101.5 |
111.7 |
|
Electronic Components |
105.0 |
105.6 |
100.0 |
114.1 |
151.4 |
|
Transport Equipment |
111.1 |
106.68 |
100.0 |
101.0 |
99.5 |
|
|
|||||
|
Construction |
25.40 |
22.00 |
- |
- |
- |
|
Real Estate |
88.5 |
145.1 |
- |
- |
- |
|
|
|||||
|
Services |
|||||
|
Electricity, Gas & Water |
6.70 |
6.50 |
- |
- |
- |
|
Transport, Storage & Communication |
9.80 |
14.20 |
- |
- |
- |
|
Finance & Insurance |
3.30 |
6.00 |
- |
7.40 |
- |
|
Government Services |
6.50 |
6.30 |
- |
- |
- |
|
Education Services |
3.10 |
5.98 |
- |
2.40 |
- |
|
|
|||||
|
* Estimate / Preliminary |
|||||
|
# Based on Index of Industrial Production
(2015 = 100) |
|||||
INDUSTRY ANALYSIS
|
|
INDUSTRY : |
TRADING |
|
According to the Ministry of Trade and
Industry, the wholesale & retail trade sector expanded to 3.0% in the
fourth quarter of 2017, moderating from the 3.3% growth in the previous
quarter. The wholesale trade segment was boosted by an improvement in foreign
wholesale sales volume, which more than offset the weakness in domestic
wholesale sales volume. For the whole of 2017, the sector expanded by 2.3%,
faster than the 1.0% growth in 2016. The improvement in growth can be
attributed to the wholesale segment. |
|
|
The domestic wholesale sales volume fell by
1.1% in the fourth quarter 2017, reversing the 2.0% growth in the preceding
quarter. The poorer outturn was led by declines in the sales volume of
household equipment & furniture (-27%) and general wholesale merchandise
(-19%), which outweighed the increase in the sales volume of
telecommunications & computers (20%). For the whole of 2017, the domestic
wholesale trade index expanded by 1.0%, a turnaround from the 2.7% decline in
2016. |
|
|
On the other hand, foreign wholesale sales
volume rose to 6.2% in the fourth quarter 2017, a step-up from the 5.1%
growth in the preceding quarter. Growth was driven by expansions in the sales
of petroleum & petroleum-related products (11%t), telecommunications
& computers (19%) and electronic components (16%). However, growth was
partly offset by a 20% decline in the sales volume of metals, timber &
construction materials. For the full year 2017, the foreign wholesale trade
index rose by 3.6%, faster than the increase of 1.5% in the previous year. |
|
|
Besides, retail sales volume rose by 2.1%
in the fourth quarter 2017, improving from the 0.9% growth recorded in the
third quarter. Growth was supported by improvements in both motor vehicle and
non-motor vehicle sales volumes. While motor vehicle sales benefitted from an
on-year increase in COE supply, growth in non-motor vehicle sales came on the
back of an improvement in consumer sentiments. Notably, the sales volume of
discretionary goods such as recreational goods, computer &
telecommunication equipment and wearing apparel & footwear grew by 4.6%,
4.3 % and 3.1% respectively. |
|
|
For the full year 2017, retail sales volume
expanded by 1.3%, similar to the 1.5% growth recorded in 2016. Growth was
driven by both motor vehicle sales and non-motor vehicle sales, which the
former rising by 1.5% and the latter increasing by 1.3%. The rise in
non-motor vehicle sales was underpinned by higher sales of discretionary
goods. For instance, the sales volume of recreational goods (3.9%), watches
& jewellery (2.4%), computer & telecommunications equipment (1.7%)
and wearing apparel & footwear (1.5%) improved in 2017. |
|
|
OVERALL INDUSTRY OUTLOOK : MARGINAL GROWTH |
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN
ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
QUALITY AMENITIES SUPPLY PTE. LTD. |
|
Financial Year End |
2016-12-31 |
2015-12-31 |
2014-12-31 |
|
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 |
SUMMARY |
|
Currency |
SGD |
SGD |
SGD |
|
TURNOVER |
12,868,415 |
13,639,942 |
12,608,962 |
|
Other Income |
31,551 |
18,362 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
12,899,966 |
13,658,304 |
12,608,962 |
|
Costs of Goods Sold |
(9,735,134) |
(10,154,837) |
- |
|
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
3,164,832 |
3,503,467 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
572,577 |
745,528 |
1,657,772 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
572,577 |
745,528 |
1,657,772 |
|
Taxation |
(55,153) |
(58,675) |
(233,744) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
517,424 |
686,853 |
1,424,028 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As previously reported |
3,543,339 |
3,736,486 |
2,312,458 |
|
---------------- |
---------------- |
---------------- |
|
|
As restated |
3,543,339 |
3,736,486 |
2,312,458 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
4,060,763 |
4,423,339 |
3,736,486 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(880,000) |
(880,000) |
- |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
3,180,763 |
3,543,339 |
3,736,486 |
|
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||
|
Hire purchase |
6,954 |
6,954 |
- |
|
Others |
10,206 |
6,744 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
17,160 |
13,698 |
- |
|
|
============= |
============= |
- |
|
|
DEPRECIATION (as per notes to P&L) |
133,091 |
92,823 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
133,091 |
92,823 |
- |
|
============= |
============= |
||
|
|
|
|
|
BALANCE SHEET
|
|
QUALITY AMENITIES SUPPLY PTE. LTD. |
|
ASSETS EMPLOYED: |
|||
|
FIXED ASSETS |
160,478 |
266,139 |
208,238 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
160,478 |
266,139 |
208,238 |
|
CURRENT ASSETS |
|||
|
Stocks |
911,141 |
1,090,937 |
- |
|
Trade debtors |
2,396,324 |
2,742,589 |
- |
|
Other debtors, deposits & prepayments |
134,399 |
117,050 |
- |
|
Amount due from holding company |
87,277 |
1,067 |
- |
|
Amount due from related companies |
13,184 |
101,696 |
- |
|
Cash & bank balances |
3,225,997 |
2,142,027 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
6,768,322 |
6,195,366 |
6,102,248 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
6,928,800 |
6,461,505 |
6,310,486 |
|
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||
|
Trade creditors |
246,590 |
70,220 |
- |
|
Other creditors & accruals |
112,448 |
100,270 |
- |
|
Hire purchase & lease creditors |
34,591 |
60,114 |
- |
|
Amounts owing to holding company |
3,184,871 |
2,412,622 |
- |
|
Amounts owing to related companies |
1,378 |
- |
- |
|
Provision for taxation |
55,153 |
127,344 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
3,635,031 |
2,770,570 |
2,366,290 |
|
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
3,133,291 |
3,424,796 |
3,735,958 |
|
---------------- |
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
|||
|
Hire purchase creditors |
13,006 |
47,596 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
13,006 |
47,596 |
107,710 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
3,280,763 |
3,643,339 |
3,836,486 |
|
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||
|
Ordinary share capital |
100,000 |
100,000 |
100,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
100,000 |
100,000 |
100,000 |
|
RESERVES |
|||
|
Retained profit/(loss) carried forward |
3,180,763 |
3,543,339 |
3,736,486 |
|
Others |
- |
- |
0 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
3,180,763 |
3,543,339 |
3,736,486 |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
3,280,763 |
3,643,339 |
3,836,486 |
|
============= |
============= |
============= |
|
|
|
|
|
|
FINANCIAL RATIO
|
|
QUALITY AMENITIES SUPPLY PTE. LTD. |
|
TYPES OF FUNDS |
|||
|
Cash |
3,225,997 |
2,142,027 |
- |
|
Net Liquid Funds |
3,225,997 |
2,142,027 |
- |
|
Net Liquid Assets |
2,222,150 |
2,333,859 |
3,735,958 |
|
Net Current Assets/(Liabilities) |
3,133,291 |
3,424,796 |
3,735,958 |
|
Net Tangible Assets |
3,280,763 |
3,643,339 |
3,836,486 |
|
Net Monetary Assets |
2,209,144 |
2,286,263 |
3,628,248 |
|
PROFIT & LOSS ITEMS |
|||
|
Earnings Before Interest & Tax (EBIT) |
589,737 |
759,226 |
- |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
722,828 |
852,049 |
- |
|
BALANCE SHEET ITEMS |
|||
|
Total Borrowings |
47,597 |
107,710 |
- |
|
Total Liabilities |
3,648,037 |
2,818,166 |
2,474,000 |
|
Total Assets |
6,928,800 |
6,461,505 |
6,310,486 |
|
Net Assets |
3,280,763 |
3,643,339 |
3,836,486 |
|
Net Assets Backing |
3,280,763 |
3,643,339 |
3,836,486 |
|
Shareholders' Funds |
3,280,763 |
3,643,339 |
3,836,486 |
|
Total Share Capital |
100,000 |
100,000 |
100,000 |
|
Total Reserves |
3,180,763 |
3,543,339 |
3,736,486 |
|
GROWTH RATIOS (Year on Year) (%) |
|||
|
Revenue |
(5.66) |
8.18 |
67.10 |
|
Proft/(Loss) Before Tax |
(23.20) |
(55.03) |
74.07 |
|
Proft/(Loss) After Tax |
(24.67) |
(51.77) |
68.33 |
|
Total Assets |
7.23 |
2.39 |
84.62 |
|
Total Liabilities |
29.45 |
13.91 |
272.06 |
|
LIQUIDITY (Times) |
|||
|
Cash Ratio |
0.89 |
0.77 |
- |
|
Liquid Ratio |
1.61 |
1.84 |
- |
|
Current Ratio |
1.86 |
2.24 |
2.58 |
|
WORKING CAPITAL CONTROL (Days) |
|||
|
Stock Ratio |
26 |
29 |
- |
|
Debtors Ratio |
68 |
73 |
- |
|
Creditors Ratio |
9 |
3 |
- |
|
SOLVENCY RATIOS (Times) |
|||
|
Gearing Ratio |
0.01 |
0.03 |
- |
|
Liabilities Ratio |
1.11 |
0.77 |
0.64 |
|
Times Interest Earned Ratio |
34.37 |
55.43 |
- |
|
Assets Backing Ratio |
32.81 |
36.43 |
38.36 |
|
PERFORMANCE RATIO (%) |
|||
|
Operating Profit Margin |
4.45 |
5.47 |
13.15 |
|
Net Profit Margin |
4.02 |
5.04 |
11.29 |
|
Return On Net Assets |
17.98 |
20.84 |
43.21 |
|
Return On Capital Employed |
17.72 |
20.24 |
42.03 |
|
Return On Shareholders' Funds/Equity |
15.77 |
18.85 |
37.12 |
|
Dividend Pay Out Ratio (Times) |
1.70 |
1.28 |
- |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.04 |
|
|
1 |
INR 92.28 |
|
Euro |
1 |
INR 80.62 |
|
SGD |
1 |
INR 49.61 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.