MIRA INFORM REPORT

Report No. :	502249
Report Date :	04.04.2018

IDENTIFICATION DETAILS

Name :	UNITED RAW MATERIAL PTE. LTD.
Registered Office :	33, Ubi Avenue 3, 05-32, Vertex, 408868
Country :	Singapore
Financials (as on) :	30.06.2017
Date of Incorporation :	30.05.2006
Com. Reg. No.:	200607763E
Legal Form :	Exempt Private (Limited By Share)
Line of Business :	The Subject is engaged in the trading of textile raw material, chemicals & polymers.
No. of Employees :	7

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

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

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.

:

200607763E

COMPANY NAME

:

UNITED RAW MATERIAL PTE. LTD.

FORMER NAME

:

N/A

INCORPORATION DATE

:

30/05/2006

COMPANY STATUS

:

EXIST

LEGAL FORM

:

EXEMPT PRIVATE (LIMITED BY SHARE)

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

33, UBI AVENUE 3, 05-32, VERTEX, 408868, SINGAPORE.

BUSINESS ADDRESS

:

33, UBI AVENUE 3, 05-32, VERTEX, 408868, SINGAPORE.

TEL.NO.

:

65-63231721

FAX.NO.

:

65-68343860

WEB SITE

:

WWW.URMPL.COM

CONTACT PERSON

:

GOEL MANOJ OMPRAKASH ( MANAGING DIRECTOR )

PRINCIPAL ACTIVITY

:

TRADING OF TEXTILE RAW MATERIAL, CHEMICALS & POLYMERS

ISSUED AND PAID UP CAPITAL

:

4,004,405.00 ORDINARY SHARE, OF A VALUE OF USD 4,004,405.00

SALES

:

USD 131,193,109 [2017]

NET WORTH

:

USD 6,464,267 [2017]

STAFF STRENGTH

:

7 [2018]

BANKER (S)

:

DBS BANK LTD UNITED OVERSEAS BANK LIMITED CITIBANK BHD THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED CITIBANK N.A. UCO BANK

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

LIMITED

PAYMENT

:

NO COMPLAINTS

MANAGEMENT CAPABILITY

:

AVERAGE

COMMERCIAL RISK

:

LOW

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

AVERAGE GROWTH

HISTORY / BACKGROUND

The Subject is an exempt private company whose shares are not held by any corporate body and has no more than 20 shareholders who are all natural persons. An exempt company is a type of private limited company. 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, suing or be sued by other companies.

An exempt private company with an annual turnover of ≤ SGD10 million, or total assets ≤ SGD10 million or number of employees ≤ 50 (meet at least 2 criteria for immediate past two financial years) are exempted from statutory auditing requirements. The Subject is not required to have their accounts audited. However, the Subject will prepare unaudited accounts for purposes of AGMs and filing with Registry Office if it is unable to meet all its obligations as and when they fall due.

An exempt private company with an annual turnover of more than SGD10 million, or total assets more than SGD10 million or number of employees more than 50 (meet at least 2 criteria for immediate past two financial years) are required to file the audited financial.

The Subject is principally engaged in the (as a / as an) trading of textile raw material, chemicals & polymers.

Share Capital History

Date	Issue & Paid Up Capital
13/03/2018	USD 4,004,405.00

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

Current Shareholder(s) :

Name	Address	IC/PP/Loc No	Shareholding	(%)
GOEL MANOJ OMPRAKASH +	22, NAND NIWAS, ASHOK NAGAR, ATHWA LINES, SURAT, GUJARAT, 465001, INDIA.	S2770136A	2,491,928.00	62.23
GOEL DEEPIKA MANOJ +	22, NAND NIWAS, ASHOK NAGAR, ATHWA LINES, SURAT, GUJARAT, 465001, INDIA.	S7388517E	921,756.00	23.02
FULZADE ROOPALI RAGHUNATH +	33, UBI AVENUE 3, 05-32, VERTEX, 408868, SINGAPORE.	G5939517W	590,721.00	14.75
			---------------	------
			4,004,405.00	100.00
			============	=====

+ Also Director

DIRECTORS

DIRECTOR 1

Name Of Subject	:	SANDEEP SURESHCHANDRA AGARWAL
Address	:	703, ADITYA COMPLEX-A, KAPADIA HEALTH CLUB, BHATAR ROAD, SURAT-395001, GUJARAT, INDIA.
IC / PP No	:	Z1930956
Nationality	:	INDIAN
Date of Appointment	:	23/08/2011

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	200607763E	UNITED RAW MATERIAL PTE. LTD.	Director	23/08/2011	0.00	-	USD786,726.00	2017	-	13/03/2018

DIRECTOR 2

Name Of Subject	:	FULZADE ROOPALI RAGHUNATH
Address	:	33, UBI AVENUE 3, 05-32, VERTEX, 408868, SINGAPORE.
IC / PP No	:	G5939517W
Nationality	:	INDIAN
Date of Appointment	:	30/05/2006

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	200607763E	UNITED RAW MATERIAL PTE. LTD.	Director	30/05/2006	590,721.00	14.75	USD786,726.00	2017	-	13/03/2018

DIRECTOR 3

Name Of Subject	:	GOEL DEEPIKA MANOJ
Address	:	22, NAND NIWAS, ASHOK NAGAR, ATHWA LINES, SURAT, GUJARAT, 465001, INDIA.
IC / PP No	:	S7388517E
Nationality	:	INDIAN
Date of Appointment	:	30/05/2006

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	200607763E	UNITED RAW MATERIAL PTE. LTD.	Director	30/05/2006	921,756.00	23.02	USD786,726.00	2017	-	13/03/2018

DIRECTOR 4

Name Of Subject	:	GOEL MANOJ OMPRAKASH
Address	:	22, NAND NIWAS, ASHOK NAGAR, ATHWA LINES, SURAT, GUJARAT, 465001, INDIA.
IC / PP No	:	S2770136A
Nationality	:	INDIAN
Date of Appointment	:	30/05/2006

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	200607763E	UNITED RAW MATERIAL PTE. LTD.	Director	30/05/2006	2,491,928.00	62.23	USD786,726.00	2017	-	13/03/2018

MANAGEMENT

1)	Name of Subject	:	GOEL MANOJ OMPRAKASH
	Position	:	MANAGING DIRECTOR

AUDITOR

Auditor	:	RAMA & CO
Auditor' Address	:	N/A

COMPANY SECRETARIES

1)	Company Secretary	:	PACKIRISAMY NAVANEETHAKUMAR
	IC / PP No	:	S7568575J
	Address	:	31, BALAM ROAD, 07-113, BALAM GARDENS, 370031, SINGAPORE.

BANKING

Banking relations are maintained principally with :

1)

Name

:

DBS BANK LTD

2)

Name

:

UNITED OVERSEAS BANK LIMITED

3)

Name

:

CITIBANK BHD

4)

Name

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

5)

Name

:

CITIBANK N.A.

6)

Name

:

UCO BANK

ENCUMBRANCE (S)

Charge No	Creation Date	Charge Description	Chargee Name	Total Charge	Status
C201007714	01/09/2010	N/A	DBS BANK LTD.	-	Unsatisfied
C201113921	03/11/2011	N/A	DBS BANK LTD.	-	Unsatisfied
C201208687	01/08/2012	N/A	CITIBANK N.A.	-	Unsatisfied
C201311523	22/08/2013	N/A	UNITED OVERSEAS BANK LIMITED	-	Unsatisfied
C201314401	24/10/2013	N/A	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED	-	Unsatisfied
C201505594	13/05/2015	N/A	CITIBANK N.A.	-	Unsatisfied
C201700581	16/01/2017	N/A	DBS BANK LTD.	-	Unsatisfied
C201709566	21/09/2017	N/A	CITIBANK N.A.	-	Unsatisfied
C201709568	21/09/2017	N/A	CITIBANK N.A.	-	Unsatisfied
C201711678	13/11/2017	N/A	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED	-	Unsatisfied
C201712695	12/12/2017	N/A	UCO BANK	-	Unsatisfied
C201801748	13/02/2018	N/A	THE HONGKONG AND SHANGHAI BANKING CORPORATION 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	:	YES
Overseas	:	YES
Import Countries	:	CHINA,MALAYSIA,TAIWAN

The Subject refused to provide any name of trade/service supplier and we are unable to conduct any trade enquiry. However, from financial historical data we conclude that :

OVERALL PAYMENT HABIT
Prompt 0-30 Days	[	]	Good 31-60 Days	[	]	Average 61-90 Days	[	X	]
Fair 91-120 Days	[	]	Poor >120 Days	[	]
CLIENTELE

Local	:	YES
Domestic Markets	:	SINGAPORE
Overseas	:	YES
Export Market	:	WORLDWIDE
Credit Term	:	AS AGREED
Payment Mode	:	CHEQUES TELEGRAPHIC TRANSFER (TT)

OPERATIONS

Goods Traded

:

TEXTILE RAW MATERIAL, CHEMICALS & POLYMERS

Total Number of Employees:
YEAR	2018	2017	2015	2014	2013
GROUP	N/A	N/A	N/A	N/A	N/A
COMPANY	7	7	6	5	5

Branch

:

NO

Other Information:

The Subject is principally engaged in the (as a / as an) trading of textile raw material, chemicals & polymers.

The Subject is the supplier of high quality textile yarns, chemicals and polymers including other fabrics. It has made a significant growth and has constantly redefined and mastered its core competencies through innovation and hard work in establishing satisfaction for all concerned. It is successfully working as a catalyst between manufacturers and prospective customers in the global market.

The Subject's products are as follows:
Chemicals
* caustic soda
* soda ash
* methanol
* pta
* meg
* sarasol - 40
* sarasol - 85
* shellsol - a150
* shellsol - a100

Textile
* polyester
* viscose
* nylon
* pet chips
* Cotton yarn

Polymers
* pvc resin
* pp granules

Industries served:
* texturizers
* weavers
* traders

The Subject ensures the quality of their products at every stage and supply only quality products to their customers.

CURRENT INVESTIGATION

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client	:	6563231721
Current Telephone Number	:	65-63231721
Match	:	YES
Address Provided by Client	:	33 UBI AVENUE 3, 05-32 VERTEX, 408868 SINGAPORE
Current Address	:	33, UBI AVENUE 3, 05-32, VERTEX, 408868, SINGAPORE.
Match	:	YES

Other Investigations

We contacted one of the staff from the Subject and she provided some information.

FINANCIAL ANALYSIS

Profitability
Turnover	:	Increased	[	48.40%	]
Profit/(Loss) Before Tax	:	Increased	[	59.78%	]
Return on Shareholder Funds	:	Acceptable	[	12.17%	]
Return on Net Assets	:	Acceptable	[	25.33%	]
The increase in turnover could be due to the Subject adopting an aggressive marketing strategy.The higher profit could be attributed to the increase in turnover. The Subject's management had generated acceptable return for its shareholders using its assets.
Working Capital Control
Debtor Ratio	:	Favourable	[	46 Days	]
Creditors Ratio	:	Favourable	[	0 Days	]
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	[	1.29 Times	]
Current Ratio	:	Unfavourable	[	1.29 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	:	Unfavourable	[	2.25 Times	]
Gearing Ratio	:	Unfavourable	[	1.87 Times	]
The Subject's interest cover was low. If its profits fall or when interest rate rises, it  may not be able to meet all its interest payment. The Subject was highly geared, thus it had a high financial risk. The Subject was dependent on loans to finance its business needs. In times of economic downturn and / or high interest rate, the Subject will become less profitable and competitive than other firms in the same industry, which are lowly geared. This is because the Subject has to service the interest and to repay the loan, which will erode part of its profits. The profits will fluctuate depending on the Subject's turnover and the interest it needs to pay.
Overall Assessment :
Generally, the Subject's performance has improved with higher turnover and profit. 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. If there is a fall in the Subject's profit or any increase in interest rate, the Subject may not be able to generate sufficient cash-flow to service its interest. The Subject's gearing level was high and its going concern will be in doubt if there is no injection of additional shareholders' funds in times of economic downturn and / or high interest rates.
Overall financial condition of the Subject : LIMITED

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
The wholesale & retail trade sector expanded by 6.8% in the third quarter of 2015, higher than the 6.0% growth in the preceding quarter. Growth was supported by both the wholesale trade and retail trade segments. The wholesale trade segment was boosted by an increase in both domestic and foreign wholesale trade sales volume. In particular, the domestic wholesale trade index rose by 7.4%, following the 8.1 % increase in the previous quarter. The strong performance in domestic wholesale trade was due to a surge in the sales of petroleum and petroleum products (14%), chemicals & chemical products (39%) and telecommunications & computers (18%).
Similarly, the foreign wholesale trade index rose by 10% in the third quarter of 2015, accelerating from the 6.9% rise in the previous quarter. Growth was driven by improvements in the sales of petroleum & petroleum products (21%), metals, timber & construction materials (10%) and general wholesale trade (8.8%).
Overall retail trade sales volume also recorded resilient growth of 5.6% in the third quarter of 2015, extending the 6.4 % expansion in the second quarter. Growth was supported by a surge in the volume of motor vehicle sales (44%), which was in turn due to a substantial increase in the supply of Certificate of Entitlements. Excluding motor vehicles, retail sales volume increased at a much slower pace of 0.7% over the same period. The increase in retail sales volume (excluding motor vehicles) was due to improved non-discretionary goods sales. For instance, the sales of medical goods & toiletries and department store goods rose by 8.1% and 3.6% respectively.
According to the Retail News Asia, Food and beverage has overtaken fashion as the primary driver of demand for retail real estate in Singapore. Despite declining retail sales and consumer spending, the prime retail sector remained in good shape during the third quarter 2015.
OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH

CREDIT RISK EVALUATION & RECOMMENDATION

Incorporated in 2006, the Subject is an Exempt Private company, focusing on trading of textile raw material, chemicals & polymers. Having been in the industry for over a decade, the Subject has achieved a certain market share and has built up a satisfactory reputation in the market. It should have received supports from its regular customers. A paid up capital of USD 4,004,405 allows the Subject to expand its business more comfortably. We considered that the Subject's business position in the market is much dependent on the efforts of its directors.

Over the years, the Subject has penetrated into both the local and overseas market. The Subject has positioned itself in the global market and is competing in the industry. Its stable clientele base will enable the Subject to further enhance its business in the near term. Being a small company, the Subject's business operation is supported by 7 employees. Overall, we regard that the Subject's management capability is average. This indicates that the Subject has greater potential to improve its business performance and raising income for the Subject.

We noted that both the turnover and profits have increased compared to the previous year. The higher profit could be due to increase in turnover and better control over its operating costs. Return on shareholders' funds of the Subject was at an acceptable range which indicated that the management was efficient in utilising its funds to generate income. The Subject is in good liquidity position with its current liabilities well covered by it current assets. Hence, it has sufficient working capital to meet its short term financial obligations. The high gearing ratio clearly implied that the Subject was supported by more debt than equity. Thus, the Subject is exposed to high financial risk. Given a positive net worth standing at USD 6,464,267, the Subject should be able to maintain its business in the near terms.

The Subject's supplier are from both the local and overseas countries. This will eliminates the risk of dependency on deliveries from a number of key suppliers and insufficient quantities of its raw materials. Overall the Subject has a good control over its resources.

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 shows an upward trend and this trend is very likely to sustain in the near terms. Hence, the Subject is expected to benefit from the favourable outlook of the industry.

Based on the above condition, we recommend credit be granted to the Subject normally.

PROFIT AND LOSS ACCOUNT

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

UNITED RAW MATERIAL PTE. LTD.

Note : The Subject is an Exempt Private Company and it is not required by law to file its financials for public view. The below financials are the last financial that submitted by the Subject to the Registrar before changed to Exempt Private Company.

Financial Year End	2017-06-30	2016-06-30
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	131,193,109	88,404,334
	----------------	----------------
Total Turnover	131,193,109	88,404,334
Costs of Goods Sold	(125,269,307)	(83,443,980)
	----------------	----------------
Gross Profit	5,923,802	4,960,354
	----------------	----------------
PROFIT/(LOSS) FROM OPERATIONS	909,694	569,348
	----------------	----------------
PROFIT/(LOSS) BEFORE TAXATION	909,694	569,348
Taxation	(122,968)	(73,500)
	----------------	----------------
PROFIT/(LOSS) AFTER TAXATION	786,726	495,848
	----------------	----------------
RETAINED PROFIT/(LOSS) BROUGHT FORWARD
As previously reported	1,493,787	997,939
	----------------	----------------
As restated	1,493,787	997,939
	----------------	----------------
PROFIT AVAILABLE FOR APPROPRIATIONS	2,280,513	1,493,787
	----------------	----------------
RETAINED PROFIT/(LOSS) CARRIED FORWARD	2,280,513	1,493,787
	=============	=============
INTEREST EXPENSE (as per notes to P&L)
Others	727,646	510,379
	----------------	----------------
	727,646	510,379
	=============	=============
DEPRECIATION (as per notes to P&L)	16,534	21,934
AMORTIZATION	46,680	44,969
	----------------	----------------
Total Amortization And Depreciation	63,214	66,903
	=============	=============

BALANCE SHEET

UNITED RAW MATERIAL PTE. LTD.

ASSETS EMPLOYED:
FIXED ASSETS	453,926	514,365
LONG TERM INVESTMENTS/OTHER ASSETS
Investment properties	3,023,996	3,070,676
	----------------	----------------
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS	3,023,996	3,070,676
	----------------	----------------
TOTAL LONG TERM ASSETS	3,477,922	3,585,041
CURRENT ASSETS
Trade debtors	16,418,126	12,323,188
Other debtors, deposits & prepayments	3,847,526	8,451,229
Short term deposits	1,689,273	1,753,947
Amount due from director	-	57,735
Cash & bank balances	304,068	1,925,664
	----------------	----------------
TOTAL CURRENT ASSETS	22,258,993	24,511,763
	----------------	----------------
TOTAL ASSET	25,736,915	28,096,804
	=============	=============
CURRENT LIABILITIES
Trade creditors	47,024	69,743
Other creditors & accruals	1,571,896	2,522,562
Short term borrowings/Term loans	285,862	251,462
Other borrowings	9,812,010	11,649,819
Amounts owing to related companies	5,271,461	5,364,759
Amounts owing to director	96,581	94,093
Provision for taxation	147,351	79,785
	----------------	----------------
TOTAL CURRENT LIABILITIES	17,232,185	20,032,223
	----------------	----------------
NET CURRENT ASSETS/(LIABILITIES)	5,026,808	4,479,540
	----------------	----------------
LONG TERM LIABILITIES
Long term loans	2,009,263	2,292,904
Deferred taxation	31,200	43,500
	----------------	----------------
TOTAL LONG TERM LIABILITIES	2,040,463	2,336,404
	----------------	----------------
TOTAL NET ASSETS	6,464,267	5,728,177
	=============	=============
FINANCED BY:
SHARE CAPITAL
Ordinary share capital	4,004,405	4,004,405
	----------------	----------------
TOTAL SHARE CAPITAL	4,004,405	4,004,405
RESERVES
Revaluation reserve	179,349	229,985
Retained profit/(loss) carried forward	2,280,513	1,493,787
	----------------	----------------
TOTAL RESERVES	2,459,862	1,723,772
	----------------	----------------
SHAREHOLDERS' FUNDS/EQUITY	6,464,267	5,728,177
	=============	=============

FINANCIAL RATIO

UNITED RAW MATERIAL PTE. LTD.

TYPES OF FUNDS
Cash	1,993,341	3,679,611
Net Liquid Funds	1,993,341	3,679,611
Net Liquid Assets	5,026,808	4,479,540
Net Current Assets/(Liabilities)	5,026,808	4,479,540
Net Tangible Assets	6,464,267	5,728,177
Net Monetary Assets	2,986,345	2,143,136
PROFIT & LOSS ITEMS
Earnings Before Interest & Tax (EBIT)	0	0
Earnings Before Interest, Taxes, Depreciation And Amortization (EBITDA)	1,700,554	1,146,630
BALANCE SHEET ITEMS
Total Borrowings	12,107,135	14,194,185
Total Liabilities	19,272,648	22,368,627
Total Assets	25,736,915	28,096,804
Net Assets	6,464,267	5,728,177
Net Assets Backing	6,464,267	5,728,177
Shareholders' Funds	6,464,267	5,728,177
Total Share Capital	4,004,405	4,004,405
Total Reserves	2,459,862	1,723,772
GROWTH RATIOS (Year on Year) (%)
Revenue	48.40	-
Proft/(Loss) Before Tax	59.78	-
Proft/(Loss) After Tax	58.66	-
Total Assets	-	-
Total Liabilities	-	-
LIQUIDITY (Times)
Cash Ratio	0.12	0.18
Liquid Ratio	1.29	1.22
Current Ratio	1.29	1.22
WORKING CAPITAL CONTROL (Days)
Stock Ratio	0	0
Debtors Ratio	46	51
Creditors Ratio	0	0
SOLVENCY RATIOS (Times)
Gearing Ratio	1.87	2.48
Liabilities Ratio	2.98	3.91
Times Interest Earned Ratio	2.25	2.12
Assets Backing Ratio	1.61	1.43
PERFORMANCE RATIO (%)
Operating Profit Margin	0.69	0.64
Net Profit Margin	0.60	0.56
Return On Net Assets	25.33	18.85
Return On Capital Employed	19.25	13.39
Return On Shareholders' Funds/Equity	12.17	8.66
Dividend Pay Out Ratio (Times)	0	0
NOTES TO ACCOUNTS
Contingent Liabilities	0	0

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.02
UK Pound	1	INR 91.46
Euro	1	INR 80.09
SGD	1	INR 49.58

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	TRU

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)

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