|
|
|
MIRA INFORM REPORT
|
Report No. : |
501876 |
|
Report Date : |
10.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
OMB VALVES ASIA
PTE LTD |
|
|
|
|
Registered Office : |
205, Woodlands Avenue 9, 03-53, 738957 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
16.11.1994 |
|
|
|
|
Com. Reg. No.: |
199408358D |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the
manufacturing of industrial valve and its related products. |
|
|
|
|
No. of Employees : |
26 [2018] |
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 : |
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. |
: |
199408358D |
||||
|
COMPANY NAME |
: |
OMB VALVES ASIA PTE LTD |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
16/11/1994 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
205, Woodlands Avenue 9, 03-53, 738957,
SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
BLOCK 205, WOODLANDS AVENUE 9, 03-53K,
WOODLANDS SPECTRUM II, 738957, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-68522110 |
||||
|
FAX.NO. |
: |
65-68521410 |
||||
|
WEB SITE |
: |
WWW.OMBVALVES.COM |
||||
|
CONTACT PERSON |
: |
CHAN KWANG JUAN ( MANAGING DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF INDUSTRIAL VALVE AND ITS
RELATED PRODUCTS |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
684,200.00 ORDINARY SHARE, OF A VALUE OF
SGD 684,200.00 |
||||
|
SALES |
: |
USD 3,572,949 [2016] |
||||
|
NET WORTH |
: |
USD 6,370,084 [2016] |
||||
|
STAFF STRENGTH |
: |
26 [2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
NO COMPLAINTS |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
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) manufacturing of industrial valve and its related products.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
04/04/2018 |
SGD 684,200.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
OMB VALVES S.P.A. |
VIA EUROPA, 7, CENATE SOTTO (BERGAMO) 24069
,ITALY |
01220760660 |
684,200.00 |
100.00 |
|
--------------- |
------ |
|||
|
684,200.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
CHAN KWANG JUAN |
|
Address |
: |
81, JURONG WEST CENTRAL 3, 06-38, THE
CENTRIS, 648340, SINGAPORE. |
|
IC / PP No |
: |
S1302777C |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
10/10/2012 |
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 |
199408358D |
OMB VALVES ASIA PTE LTD |
Director |
10/10/2012 |
0.00 |
- |
USD290,410.00 |
2016 |
- |
04/04/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
SIMONE BREVI |
|
Address |
: |
VIA PICCININI DANI 2, BERGAMO, 24122,
ITALY. |
|
IC / PP No |
: |
YA3584393 |
|
Nationality |
: |
ITALIAN |
|
Date of Appointment |
: |
16/11/1994 |
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 |
199408358D |
OMB VALVES ASIA PTE LTD |
Director |
16/11/1994 |
0.00 |
- |
USD290,410.00 |
2016 |
- |
04/04/2018 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
CHAN KWANG JUAN |
|
Position |
: |
MANAGING DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
ROBERT YAM - H.C. KOH LLP |
|
Auditor' Address |
: |
N/A |
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
TAN LAY HIONG |
|
IC / PP No |
: |
S1271792Z |
|
|
Address |
: |
48, RICHARDS AVENUE, 546465, 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 |
|
C200710567 |
30/11/2007 |
N/A |
UNITED OVERSEAS BANK LIMITED |
- |
Unsatisfied |
|
C200811302 |
22/12/2008 |
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 |
: |
YES |
|
Overseas |
: |
YES |
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 |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2018 |
2016 |
|||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
26 |
26 |
|||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing of
industrial valve and its related products.
The Subject is engaged in the forged steel valves production.
The Subject's mission is to provide the highest possible quality forged steel
valves at the most cost effective way to customers worldwide in the energy
related industries.
The Subject use high technology of machine in order to produce high quality of
products.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number Provided By Client |
: |
68522110 |
|
Current Telephone Number |
: |
65-68522110 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
BLOCK 205 WOODLANDS AVENUE 9, #0353
WOODLANDS SPECTRUM II SINGAPORE 738957 |
|
Current Address |
: |
BLOCK 205, WOODLANDS AVENUE 9, 03-53K, WOODLANDS
SPECTRUM II, 738957, SINGAPORE. |
|
Match |
: |
NO |
Other Investigations
We have contacted one of the staff from the Subject and she provided some
information.
The address is as per stated in the report.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2011 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2011 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
4.56% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
4.43% |
] |
|
|
The fluctuating turnover reflects the
fierce competition among the existing and new market players.The Subject's
profit fell sharply because of the high operating costs incurred. 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 |
: |
Unfavourable |
[ |
163 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
42 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
4 Days |
] |
|
|
The Subject could be incurring higher
holding cost. As its capital was tied up in stocks, it could face liquidity problems.
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 |
[ |
3.20 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
4.11 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 |
[ |
17.73 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.02 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
: FAIR |
||||||
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 : |
MANUFACTURING |
|
The manufacturing sector expanded by 4.8%
in the fourth quarter, supported largely by robust output growth in the
electronics and precision engineering clusters. For the whole of 2017, the
manufacturing sector grew by 10%, accelerating from the 3.7% expansion in
2016. Growth was largely driven by the electronics and precision engineering
clusters, even as the biomedical manufacturing, transport engineering and
general manufacturing industries clusters contracted. |
|
|
The electronics cluster grew by 24% in the
fourth quarter 2017, largely due to the semiconductors segment, which
expanded by 35%. Specifically, the semiconductors segment benefitted from
robust global semiconductors demand, which was in turn driven by key end
markets such as the smartphone market. At the same time, the computer
peripherals segment registered healthy growth of 9.5%, supported by buoyant
demand for printer-related products. On the other hand, the data storage and
other electronic modules & components segments contracted by 25% and 7.5%
respectively. For the full year, the electronics cluster expanded by 34% as
the healthy performance of the semiconductors and computer peripherals
segments more than offset the weakness in the data storage segment. |
|
|
In fourth quarter 2017, the precision
engineering cluster expanded to 20%, supported by both the precision modules
& components (PMC) and machinery & systems (M&S) segments. Output
in the PMC segment rose by 40% due to an increase in the production of dies,
moulds, tools, jigs & fixture, optical instruments and metal precision
components. Meanwhile, the M&S segment grew by 8.9% in tandem with
healthy export demand for semiconductor manufacturing equipment. For the
whole of 2017, the output of the precision engineering cluster rose by 18% on
account of robust expansions in both segments. |
|
|
The chemicals cluster grew by 12% in the
fourth quarter 2017, with all segments recording growth. In particular, the
petrochemicals segment grew by 23% on the back of production capacity
expansions, while the petroleum segment expanded by 13% supported by higher
refining margins. At the same time, the other chemicals and specialties
segments posted growth of 8.1% and 6.2%respectively. For 2017 as a whole, the
chemicals cluster expanded by 6.2%, supported by growth in all segments. |
|
|
Besides, output of the general
manufacturing industries cluster increased to 6.6% in the fourth quarter
2017, primarily due to the strong performance of the food, beverages &
tobacco (FBT) segment, which grew by 18% on the back of a surge in the
production of beverages products. On the other hand, the printing segment
shrank by 11% due to weak demand for commercial printing, while output in the
miscellaneous industries segment declined by 0.6% on account of a lower
production of construction-related materials. For the whole of 2017, the
general manufacturing industries cluster contracted by 1.6%, as output
declines in the printing and miscellaneous industries segments outweighed
output gains in the FBT segment. |
|
|
Moreover, output of the transport
engineering cluster fell by 7.8% in the fourth quarter 2017. The aerospace
segment recorded robust growth of 13% due to a higher volume of repair and maintenance
work from commercial airlines. However, this was more than offset by output
declines in the marine & offshore engineering (M&OE) and land
transport segments of 22% and 11% respectively. In particular, the M&OE
segment remained weak on account of low levels of rig-building, shipbuilding
and repair activities. For the full year 2017, the transport engineering
cluster shrank by 6.9%, dragged down mainly by the M&OE segment. |
|
|
The biomedical manufacturing cluster
contracted by 28% in the fourth quarter 2017, weighed down by the
pharmaceuticals segment (-37%) on the back of a drop in the production of
active pharmaceutical ingredients and biological products. However, the
medical technology segment, which grew at a healthy pace of 3.3%, provided
some support to the cluster. For 2017 as a whole, output in the biomedical
manufacturing cluster fell by 9.3%, led by the output decline in the
pharmaceuticals segment. |
|
|
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. |
|
OMB VALVES ASIA PTE LTD |
|
Financial Year End |
2016-12-31 |
2015-12-31 |
2014-12-31 |
2013-12-31 |
|
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 |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
USD |
|
TURNOVER |
3,572,949 |
5,598,247 |
4,892,724 |
5,507,070 |
|
Other Income |
662,537 |
719,218 |
1,416,427 |
1,084,486 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
4,235,486 |
6,317,465 |
6,309,151 |
6,591,556 |
|
Costs of Goods Sold |
(2,274,106) |
(3,497,403) |
(3,281,074) |
(3,767,179) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
1,961,380 |
2,820,062 |
3,028,077 |
2,824,377 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
266,126 |
642,547 |
1,008,718 |
1,154,562 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
266,126 |
642,547 |
1,008,718 |
1,154,562 |
|
Taxation |
24,284 |
(46,528) |
(95,640) |
(129,831) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
290,410 |
596,019 |
913,078 |
1,024,731 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||||
|
As previously reported |
5,539,156 |
4,943,137 |
4,030,059 |
3,005,328 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
5,539,156 |
4,943,137 |
4,030,059 |
3,005,328 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
5,829,566 |
5,539,156 |
4,943,137 |
4,030,059 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
5,829,566 |
5,539,156 |
4,943,137 |
4,030,059 |
|
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
||||
|
Lease interest |
3,086 |
2,534 |
1,901 |
- |
|
Term loan / Borrowing |
3,757 |
5,260 |
9,133 |
13,155 |
|
Others |
9,068 |
12,049 |
15,127 |
17,248 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
15,911 |
19,843 |
26,161 |
30,403 |
|
|
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
139,750 |
131,840 |
101,505 |
61,860 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
139,750 |
131,840 |
101,505 |
61,860 |
|
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
BALANCE SHEET
|
|
OMB VALVES ASIA PTE LTD |
|
ASSETS EMPLOYED: |
||||
|
FIXED ASSETS |
1,043,305 |
1,099,106 |
1,074,815 |
982,381 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
1,043,305 |
1,099,106 |
1,074,815 |
982,381 |
|
CURRENT ASSETS |
||||
|
Stocks |
1,598,669 |
1,544,801 |
2,018,117 |
1,668,882 |
|
Trade debtors |
410,788 |
810,443 |
777,517 |
1,444,845 |
|
Other debtors, deposits & prepayments |
2,812 |
201,478 |
3,650 |
3,650 |
|
Amount due from holding company |
525,618 |
498,400 |
- |
- |
|
Amount due from related companies |
1,046,423 |
1,967,121 |
3,342,608 |
2,528,837 |
|
Cash & bank balances |
3,540,362 |
2,557,024 |
2,973,400 |
2,205,053 |
|
Others |
30,658 |
9,869 |
52,454 |
65,960 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
7,155,330 |
7,589,136 |
9,167,746 |
7,917,227 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
8,198,635 |
8,688,242 |
10,242,561 |
8,899,608 |
|
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
||||
|
Trade creditors |
24,514 |
17,660 |
93,861 |
58,294 |
|
Other creditors & accruals |
407,383 |
715,891 |
1,256,955 |
2,245,010 |
|
Short term borrowings/Term loans |
80,659 |
88,354 |
87,020 |
80,756 |
|
Amounts owing to holding company |
1,165,625 |
1,430,442 |
- |
- |
|
Amounts owing to related companies |
- |
- |
2,733,938 |
1,409,601 |
|
Amounts owing to director |
- |
- |
132,720 |
124,820 |
|
Provision for taxation |
17,576 |
139,486 |
132,334 |
130,397 |
|
Lease payables |
43,179 |
29,774 |
29,774 |
- |
|
Other liabilities |
- |
24,371 |
12,392 |
6,820 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
1,738,936 |
2,445,978 |
4,478,994 |
4,055,698 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
5,416,394 |
5,143,158 |
4,688,752 |
3,861,529 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
||||
|
Long term loans |
- |
83,494 |
171,042 |
261,219 |
|
Lease obligations |
77,501 |
66,982 |
96,756 |
- |
|
Deferred taxation |
12,114 |
12,114 |
12,114 |
12,114 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
89,615 |
162,590 |
279,912 |
273,333 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
6,370,084 |
6,079,674 |
5,483,655 |
4,570,577 |
|
============= |
============= |
============= |
============= |
|
|
FINANCED BY: |
||||
|
SHARE CAPITAL |
||||
|
Ordinary share capital |
540,518 |
540,518 |
540,518 |
540,518 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
540,518 |
540,518 |
540,518 |
540,518 |
|
RESERVES |
||||
|
Retained profit/(loss) carried forward |
5,829,566 |
5,539,156 |
4,943,137 |
4,030,059 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
5,829,566 |
5,539,156 |
4,943,137 |
4,030,059 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
6,370,084 |
6,079,674 |
5,483,655 |
4,570,577 |
|
============= |
============= |
============= |
============= |
|
FINANCIAL RATIO
|
|
OMB VALVES ASIA PTE LTD |
|
TYPES OF FUNDS |
||||
|
Cash |
3,540,362 |
2,557,024 |
2,973,400 |
2,205,053 |
|
Net Liquid Funds |
3,540,362 |
2,557,024 |
2,973,400 |
2,205,053 |
|
Net Liquid Assets |
3,817,725 |
3,598,357 |
2,670,635 |
2,192,647 |
|
Net Current Assets/(Liabilities) |
5,416,394 |
5,143,158 |
4,688,752 |
3,861,529 |
|
Net Tangible Assets |
6,370,084 |
6,079,674 |
5,483,655 |
4,570,577 |
|
Net Monetary Assets |
3,728,110 |
3,435,767 |
2,390,723 |
1,919,314 |
|
PROFIT & LOSS ITEMS |
||||
|
Earnings Before Interest & Tax (EBIT) |
282,037 |
662,390 |
1,034,879 |
1,184,965 |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
421,787 |
794,230 |
1,136,384 |
1,246,825 |
|
BALANCE SHEET ITEMS |
||||
|
Total Borrowings |
158,160 |
238,830 |
354,818 |
341,975 |
|
Total Liabilities |
1,828,551 |
2,608,568 |
4,758,906 |
4,329,031 |
|
Total Assets |
8,198,635 |
8,688,242 |
10,242,561 |
8,899,608 |
|
Net Assets |
6,370,084 |
6,079,674 |
5,483,655 |
4,570,577 |
|
Net Assets Backing |
6,370,084 |
6,079,674 |
5,483,655 |
4,570,577 |
|
Shareholders' Funds |
6,370,084 |
6,079,674 |
5,483,655 |
4,570,577 |
|
Total Share Capital |
540,518 |
540,518 |
540,518 |
540,518 |
|
Total Reserves |
5,829,566 |
5,539,156 |
4,943,137 |
4,030,059 |
|
GROWTH RATIOS (Year on Year) (%) |
||||
|
Revenue |
(36.18) |
14.42 |
(11.16) |
(30.16) |
|
Proft/(Loss) Before Tax |
(58.58) |
(36.30) |
(12.63) |
171.43 |
|
Proft/(Loss) After Tax |
(51.28) |
(34.72) |
(10.90) |
140.91 |
|
Total Assets |
(5.64) |
(15.18) |
15.09 |
(1.65) |
|
Total Liabilities |
(29.90) |
(45.19) |
9.93 |
(6.30) |
|
LIQUIDITY (Times) |
||||
|
Cash Ratio |
2.04 |
1.05 |
0.66 |
0.54 |
|
Liquid Ratio |
3.20 |
2.47 |
1.60 |
1.54 |
|
Current Ratio |
4.11 |
3.10 |
2.05 |
1.95 |
|
WORKING CAPITAL CONTROL (Days) |
||||
|
Stock Ratio |
163 |
101 |
151 |
111 |
|
Debtors Ratio |
42 |
53 |
58 |
96 |
|
Creditors Ratio |
4 |
2 |
10 |
6 |
|
SOLVENCY RATIOS (Times) |
||||
|
Gearing Ratio |
0.02 |
0.04 |
0.06 |
0.07 |
|
Liabilities Ratio |
0.29 |
0.43 |
0.87 |
0.95 |
|
Times Interest Earned Ratio |
17.73 |
33.38 |
39.56 |
38.98 |
|
Assets Backing Ratio |
11.79 |
11.25 |
10.15 |
8.46 |
|
PERFORMANCE RATIO (%) |
||||
|
Operating Profit Margin |
7.45 |
11.48 |
20.62 |
20.97 |
|
Net Profit Margin |
8.13 |
10.65 |
18.66 |
18.61 |
|
Return On Net Assets |
4.43 |
10.90 |
18.87 |
25.93 |
|
Return On Capital Employed |
4.37 |
10.61 |
17.96 |
24.46 |
|
Return On Shareholders' Funds/Equity |
4.56 |
9.80 |
16.65 |
22.42 |
|
Dividend Pay Out Ratio (Times) |
0 |
0 |
0 |
0 |
|
NOTES TO ACCOUNTS |
||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.93 |
|
|
1 |
INR 91.50 |
|
Euro |
1 |
INR 79.69 |
|
SGD |
1 |
INR 49.52 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
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.