|
|
|
MIRA
INFORM REPORT
|
Report No. : |
502202 |
|
Report Date : |
11.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
R1 INTERNATIONAL PTE LTD |
|
|
|
|
Registered Office : |
8, Robinson Road, 05-00, Aso
Building, 048544 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
20.07.2001 |
|
|
|
|
Com. Reg. No.: |
200104842R |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The Subject is engaged in the trading of natural rubber,
synthetic rubber and latex. |
|
|
|
|
No. of Employees : |
23 |
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. |
: |
200104842R |
||||
|
COMPANY NAME |
: |
R1 INTERNATIONAL PTE LTD |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
20/07/2001 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
8, ROBINSON ROAD, 05-00, ASO BUILDING, 048544, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
8, ROBINSON ROAD, ASO BUILDING, 05-00, 048544, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-65574399 |
||||
|
FAX.NO. |
: |
65-65383393 |
||||
|
EMAIL |
: |
ENQUIRIES@R1INTERNATIONAL.COM |
||||
|
WEB SITE |
: |
WWW.R1INTERNATIONAL.COM |
||||
|
CONTACT PERSON |
: |
SANDANA DASS ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF NATURAL RUBBER, SYNTHETIC RUBBER AND LATEX |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
7,000,000.00 ORDINARY SHARE, OF A VALUE OF USD 7,000,000.00 |
||||
|
SALES |
: |
USD 828,613,336 [2016] |
||||
|
NET WORTH |
: |
USD 69,025,281 [2016] |
||||
|
STAFF STRENGTH |
: |
23 [2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
POOR |
||||
|
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) trading of natural rubber, synthetic rubber and
latex.
The immediate holding company of
the Subject is HAINAN STATE FARMS INVESTMENT LIMITED, a company incorporated in
VIRGIN ISLANDS, BRITISH.
The ultimate holding company of
the Subject is HAINAN STATE FARM GROUP CO. LTD., a company incorporated in
VIRGIN ISLANDS, BRITISH.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
09/03/2018 |
USD 7,063,662.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
HAINAN STATE FARMS INVESTMENT LIMITED |
P.O. BOX 957, OFFSHORE INCORPORATIONS CENTRE, ROAD TOWN, TORTOLA
VIRGIN ISLANDS, BRITISH |
T12UF1750 |
4,200,000.00 |
60.00 |
|
HAINAN RUBBER GROUP (SINGAPORE) DEVELOPMENT PTE. LTD. |
9, TEMASEK BOULEVARD, 28-03, SUNTEC TOWER TWO 038989 ,SINGAPORE |
200918102R |
1,050,000.00 |
15.00 |
|
SANDANA DASS + |
9, BOSCOMBE ROAD, 439746, SINGAPORE. |
S2712656A |
700,000.00 |
10.00 |
|
THAVEESAK HOLDING CO. LTD |
20/05, GOMARAPAT ROAD, PHUKET, 83000 THAILAND |
T07UF0849 |
410,000.00 |
5.86 |
|
LIM BENG SENG |
373, ONAN ROAD, 03-13, MALVERN SPRINGS 424775 ,SINGAPORE |
S2607496 |
88,888.00 |
1.27 |
|
MR. LING CHAN YEW |
NO. 11, JALAN BAIT U8/1B, BUKIT JELUTONG, 40150 SHAH ALAM,
SELANGOR, MALAYSIA. |
720128-10-5211 |
88,000.00 |
1.26 |
|
HO WAI LEONG |
1, LEICESTER ROAD, 13-05, ONE LEICESTER 358828 ,SINGAPORE |
S7625177 |
80,000.00 |
1.14 |
|
R1 INTERNATIONAL PTE LTD |
8, ROBINSON ROAD, 05-00, ASO BUILDING 048544 ,SINGAPORE |
200104842R |
63,662.00 |
0.91 |
|
TOSHINOBU HANDA |
3-601, CITI'S FORT, 1-6-1, UTASE, MIHAMAKU, CHIBA-CITY, ZIP CODE
261-0013 JAPAN |
TH3245093 |
50,000.00 |
0.71 |
|
CROSS COMMODITY INVESTMENT HOLDING CO. LTD. |
P.O. BOX 957, OFFSHORE INCORPORATIONS CENTRE, ROAD TOWN, TORTOLA
VIRGIN ISLANDS, BRITISH |
T12UF4846 |
40,450.00 |
0.58 |
|
REMAINING SHAREHOLDERS |
- |
- |
229,000.00 |
3.27 |
|
--------------- |
------ |
|||
|
7,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies
(Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
Status |
(%) |
As At |
|
INDONESIA |
PT BINTANG AGUNG PERSADA |
- |
60.00 |
31/12/2014 |
|
|
200612801W |
SINGAPORE |
R1 DELTA CIS PTE. LTD. |
- |
51.00 |
09/03/2018 |
|
UNITED STATES |
R1 INTERNATIONAL (AMERICAS) INC. |
- |
100.00 |
31/12/2015 |
|
|
INDIA |
R1 INTERNATIONAL (INDIA) PTE LTD |
- |
100.00 |
31/12/2015 |
|
|
CHINA |
R1 INTERNATIONAL (QINGDAO) CO LTD |
- |
100.00 |
31/12/2015 |
|
|
THAILAND |
R1 INTERNATIONAL (THAILAND) LTD. |
- |
100.00 |
31/12/2015 |
|
|
VIETNAM |
R1 INTERNATIONAL COMPANY LIMITED (VIETNAM) |
- |
100.00 |
31/12/2015 |
|
|
JAPAN |
R1 INTERNATIONAL JAPAN LIMITED |
- |
100.00 |
31/12/2015 |
|
|
557593W |
MALAYSIA |
R1 INTERNATIONAL MALAYSIA SDN. BHD. |
- |
100.00 |
06/02/2018 |
|
CHINA |
R1 INTERNATIONAL TRADING (SHANGHAI) CO. LIMITED |
- |
100.00 |
31/12/2015 |
|
|
201410155H |
SINGAPORE |
R1 RUBBER VENTURES PTE. LTD. |
- |
100.00 |
09/03/2018 |
|
201314463 |
SINGAPORE |
RMLIB RUBBER COMPANY PTE. LTD. |
- |
70.00 |
09/03/2018 |
DIRECTORS |
DIRECTOR 1
|
Name Of Subject |
: |
BUNDIT KERDVONGBUNDIT |
|
Address |
: |
20/5, GOMARAPAT ROAD MUANG, PHUKET, 83000, THAILAND. |
|
IC / PP No |
: |
N877196 |
|
Nationality |
: |
THAI |
|
Date of Appointment |
: |
18/09/2013 |
|
Remark |
: |
ALTERNATE DIRECTOR TO PONGSAK KERDVONGBUNDIT |
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 |
200104842R |
R1 INTERNATIONAL PTE LTD |
Director |
18/09/2013 |
0.00 |
- |
USD3,030,341.00 |
2016 |
- |
09/03/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
PONGSAK KERDVONGBUNDIT |
|
Address |
: |
20/5, GOMARAPAT ROAD, PHUKET, 83000, THAILAND. |
|
IC / PP No |
: |
AA1805382 |
|
Nationality |
: |
THAI |
|
Date of Appointment |
: |
23/07/2001 |
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 |
200720688R |
N. POLYMER INTERNATIONAL PTE. LTD. |
Director |
27/07/2012 |
150,000.00 |
5.00 |
- |
2016 |
- |
14/04/2017 |
|
2 |
200104842R |
R1 INTERNATIONAL PTE LTD |
Director |
23/07/2001 |
0.00 |
- |
USD3,030,341.00 |
2016 |
- |
09/03/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
LIN XI |
|
Address |
: |
4TH FLOOR, FORTUNE PLAZA, 103, BINHAI AVE. HAIKOU HAINAN
PROVINCE, CHINA. |
|
IC / PP No |
: |
G25640962 |
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
30/10/2017 |
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 |
200104842R |
R1 INTERNATIONAL PTE LTD |
Director |
30/10/2017 |
0.00 |
- |
USD3,030,341.00 |
2016 |
- |
09/03/2018 |
DIRECTOR 4
|
Name Of Subject |
: |
LI, QISHENG |
|
Address |
: |
4TH FLOOR, FORTUNE PLAZA, 103, BINHAI AVE. HAIKOU HAINAN
PROVINCE, CHINA. |
|
IC / PP No |
: |
PE1258356 |
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
01/02/2018 |
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 |
200104842R |
R1 INTERNATIONAL PTE LTD |
Director |
01/02/2018 |
0.00 |
- |
USD3,030,341.00 |
2016 |
- |
09/03/2018 |
DIRECTOR 5
|
Name Of Subject |
: |
WAN ZHIRONG |
|
Address |
: |
103, HAIG ROAD, 04-02, THE SERENNO, 438750, SINGAPORE. |
|
IC / PP No |
: |
S7888101A |
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
07/09/2016 |
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 |
200918102R |
HAINAN RUBBER GROUP (SINGAPORE) DEVELOPMENT PTE. LTD. |
Director |
02/11/2009 |
0.00 |
- |
USD(442,761.00) |
2016 |
- |
31/10/2017 |
|
2 |
200104842R |
R1 INTERNATIONAL PTE LTD |
Director |
07/09/2016 |
0.00 |
- |
USD3,030,341.00 |
2016 |
- |
09/03/2018 |
DIRECTOR 6
|
Name Of Subject |
: |
WANG RENFEI |
|
Address |
: |
5TH FLOOR, DEBAOXINYUAN XICHENG DISTRICT, BEIJING CITY, CHINA. |
|
IC / PP No |
: |
PE1130440 |
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
01/02/2018 |
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 |
200104842R |
R1 INTERNATIONAL PTE LTD |
Director |
01/02/2018 |
0.00 |
- |
USD3,030,341.00 |
2016 |
- |
09/03/2018 |
DIRECTOR 7
|
Name Of Subject |
: |
SANDANA DASS |
|
Address |
: |
9, BOSCOMBE ROAD, 439746, SINGAPORE. |
|
IC / PP No |
: |
S2712656A |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
20/07/2001 |
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 |
200612801W |
R1 DELTA CIS PTE. LTD. |
Director |
01/09/2006 |
0.00 |
- |
USD742,711.00 |
2015 |
- |
12/04/2017 |
|
2 |
200104842R |
R1 INTERNATIONAL PTE LTD |
Director |
20/07/2001 |
700,000.00 |
9.91 |
USD3,030,341.00 |
2016 |
- |
09/03/2018 |
MANAGEMENT |
|
1) |
Name of Subject |
: |
SANDANA DASS |
|
Position |
: |
DIRECTOR |
|
|
|
AUDITOR |
|
Auditor |
: |
ERNST & YOUNG LLP |
|
Auditor' Address |
: |
N/A |
|
|
COMPANY SECRETARIES |
|
1) |
Company Secretary |
: |
TAN HUI LING |
|
IC / PP No |
: |
S7816112D |
|
|
Address |
: |
350, YISHUN AVENUE 11, 08-227, 760350, SINGAPORE. |
|
|
|
BANKING |
Banking relations are maintained principally with :
|
1) |
Name |
: |
OVERSEA-CHINESE BANKING CORPORATION LIMITED |
|
2) |
Name |
: |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
|
3) |
Name |
: |
AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD |
|
4) |
Name |
: |
STANDARD CHARTERED BANK |
ENCUMBRANCE (S) |
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C200901120 |
18/02/2009 |
N/A |
THE HONGKONG & SHANGHAI BANKING CORPORATION LIMITED |
- |
Unsatisfied |
|
C200903382 |
10/06/2009 |
N/A |
THE HONGKONG & SHANGHAI BANKING CORPORATION LIMITED |
- |
Unsatisfied |
|
C200908719 |
30/12/2009 |
N/A |
OVERSEA-CHINESE BANKING CORPORATION LIMITED |
- |
Unsatisfied |
|
C201005738 |
07/07/2010 |
N/A |
STANDARD CHARTERED BANK |
- |
Unsatisfied |
|
C201005739 |
07/07/2010 |
N/A |
STANDARD CHARTERED BANK |
- |
Unsatisfied |
|
C201010422 |
03/11/2010 |
N/A |
ABN AMRO BANK N.V |
- |
Unsatisfied |
|
C201105477 |
04/05/2011 |
N/A |
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED |
- |
Unsatisfied |
|
C201303595 |
07/03/2013 |
N/A |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
- |
Unsatisfied |
|
C201707519 |
25/07/2017 |
N/A |
ABN AMRO BANK N.V., SINGAPORE BRANCH |
- |
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 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 |
[ |
] |
Average 61-90 Days |
[ |
X |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE |
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
EUROPE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS |
|
Goods Traded |
: |
NATURAL RUBBER, SYNTHETIC RUBBER AND LATEX |
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2017 |
2016 |
2015 |
2014 |
||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
23 |
22 |
22 |
22 |
20 |
||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of natural
rubber, synthetic rubber and latex.
The Subject is the market leader in the value chain management of Natural
Rubber; offering a plethora of grades from diverse originations, to its
customers globally; addressing their raw material needs in natural &
synthetic rubbers and creating value through its risk management solutions.
The Subject is positioned as a single-stop solution to the rubber industry's
raw material requirements.
The Subject's products include :
- Natural Rubber
- Latex
- Synthetic Rubber
R1 is the market leader in the value chain management of Natural Rubber.
CURRENT INVESTIGATION |
Latest fresh investigations carried out on the Subject indicated
that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-65574399 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
8 ROBINSON ROAD,ASO BUILDING #05-00, 048544 SINGAPORE |
|
Current Address |
: |
8, ROBINSON ROAD, ASO BUILDING, 05-00, 048544, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We have contacted one of the staff from the Subject and she
provided some information.
FINANCIAL ANALYSIS |
|
|
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
4.85% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
9.29% |
] |
|
|
The continuous fall in turnover could be due to the lower demand
for the Subject's products / services.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 |
: |
Favourable |
[ |
34 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
33 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
15 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 |
: |
Acceptable |
[ |
0.83 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.20 Times |
] |
|
|
The Subject's liquid ratio was slightly low. This could indicate
that the Subject's working capital was slightly deficient. The Subject will
have to improve its liquidity position either by obtaining short term
financing or increase its paid up capital so that it can meet all its short
term obligations as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Unfavourable |
[ |
2.49 Times |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
1.45 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 : |
||||||
|
The Subject's performance deteriorated over the years with lower
turnover and profit. The Subject's liquidity was at an acceptable range. If
the Subject is able to obtain further short term financing, it should be able
to meet all 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 : POOR |
||||||
|
|
||||||
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. |
|
R1 INTERNATIONAL PTE LTD |
|
Financial Year End |
2016-12-31 |
2015-12-31 |
2014-12-31 |
2013-12-31 |
2012-12-31 |
|
Months |
12 |
12 |
12 |
12 |
15 |
|
Consolidated Account |
GROUP |
GROUP |
GROUP |
GROUP |
GROUP |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
USD |
USD |
|
TURNOVER |
828,613,336 |
1,027,462,908 |
1,411,176,983 |
2,027,825,216 |
3,279,175,979 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
828,613,336 |
1,027,462,908 |
1,411,176,983 |
2,027,825,216 |
3,279,175,979 |
|
Costs of Goods Sold |
(807,861,317) |
(997,692,111) |
(1,385,754,503) |
(1,993,801,190) |
(3,238,659,431) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
20,752,019 |
29,770,797 |
25,422,480 |
34,024,026 |
40,516,548 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
3,841,783 |
12,539,648 |
9,279,855 |
16,090,248 |
21,376,052 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
3,841,783 |
12,539,648 |
9,279,855 |
16,090,248 |
21,376,052 |
|
Taxation |
(811,442) |
(1,754,890) |
(1,866,361) |
(1,904,254) |
(4,134,187) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
3,030,341 |
10,784,758 |
7,413,494 |
14,185,994 |
17,241,865 |
|
Minority interests |
314,410 |
148,788 |
(587,327) |
(988,926) |
(870,688) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
3,344,751 |
10,933,546 |
6,826,167 |
13,197,068 |
16,371,177 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
3,344,751 |
10,933,546 |
6,826,167 |
13,197,068 |
16,371,177 |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
57,655,059 |
50,672,881 |
50,334,684 |
42,039,899 |
25,668,722 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
57,655,059 |
50,672,881 |
50,334,684 |
42,039,899 |
25,668,722 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
60,999,810 |
61,606,427 |
57,160,851 |
55,236,967 |
42,039,899 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(5,203,754) |
(3,951,368) |
(6,487,970) |
(4,902,283) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
55,796,056 |
57,655,059 |
50,672,881 |
50,334,684 |
42,039,899 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Others |
2,569,772 |
2,741,878 |
2,867,144 |
4,543,883 |
8,027,096 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
2,569,772 |
2,741,878 |
2,867,144 |
4,543,883 |
8,027,096 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
1,302,689 |
653,157 |
171,116 |
259,543 |
366,020 |
|
AMORTIZATION |
192,551 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
1,495,240 |
653,157 |
171,116 |
259,543 |
366,020 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE SHEET |
|
|
|
R1 INTERNATIONAL PTE LTD |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
27,572,863 |
20,602,709 |
4,394,486 |
313,251 |
412,501 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Deferred assets |
491,850 |
655,657 |
1,341,748 |
463,855 |
131,095 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
491,850 |
655,657 |
1,341,748 |
463,855 |
131,095 |
|
INTANGIBLE ASSETS |
|||||
|
Goodwill on consolidation |
490,704 |
321,308 |
- |
- |
- |
|
Others |
8,447,672 |
8,535,152 |
9,905,041 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
8,938,376 |
8,856,460 |
9,905,041 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
37,003,089 |
30,114,826 |
15,641,275 |
777,106 |
543,596 |
|
CURRENT ASSETS |
|||||
|
Stocks |
78,293,733 |
38,582,691 |
46,245,462 |
83,600,279 |
58,054,345 |
|
Trade debtors |
75,466,033 |
59,573,737 |
73,904,561 |
105,850,596 |
117,821,626 |
|
Other debtors, deposits & prepayments |
14,310,224 |
24,840,754 |
19,172,437 |
31,887,458 |
30,066,953 |
|
Amount due from related companies |
729,647 |
137,242 |
1,763,538 |
38,753,126 |
15,527,752 |
|
Cash & bank balances |
33,037,802 |
20,680,010 |
22,944,446 |
35,610,851 |
30,534,886 |
|
Others |
51,277,558 |
26,056,770 |
19,498,189 |
16,721,169 |
27,058,972 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
253,114,997 |
169,871,204 |
183,528,633 |
312,423,479 |
279,064,534 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
290,118,086 |
199,986,030 |
199,169,908 |
313,200,585 |
279,608,130 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
33,758,036 |
35,098,959 |
47,037,799 |
72,424,497 |
74,124,951 |
|
Other creditors & accruals |
14,816,629 |
11,318,308 |
16,816,041 |
16,509,122 |
19,374,309 |
|
Bank overdraft |
1,310,952 |
341,555 |
- |
- |
- |
|
Short term borrowings/Term loans |
3,600,000 |
1,500,000 |
- |
134,257,451 |
97,747,329 |
|
Other borrowings |
85,916,909 |
51,286,876 |
52,101,220 |
- |
- |
|
Amounts owing to related companies |
21,946,312 |
4,855,599 |
6,099,074 |
13,909,696 |
9,992,016 |
|
Provision for taxation |
1,424,301 |
2,032,129 |
2,538,514 |
2,133,965 |
3,422,487 |
|
Other liabilities |
48,525,251 |
14,674,157 |
8,166,419 |
13,164,918 |
22,416,256 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
211,298,390 |
121,107,583 |
132,759,067 |
252,399,649 |
227,077,348 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
41,816,607 |
48,763,621 |
50,769,566 |
60,023,830 |
51,987,186 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
|||||
|
Long term loans |
9,600,000 |
6,923,000 |
- |
- |
- |
|
Deferred taxation |
194,415 |
383,761 |
1,610,070 |
703,856 |
73,270 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
9,794,415 |
7,306,761 |
1,610,070 |
703,856 |
73,270 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
69,025,281 |
71,571,686 |
64,800,771 |
60,097,080 |
52,457,512 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED BY: |
|||||
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
7,000,000 |
7,000,000 |
7,000,000 |
7,000,000 |
7,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
7,000,000 |
7,000,000 |
7,000,000 |
7,000,000 |
7,000,000 |
|
RESERVES |
|||||
|
Capital reserve |
851,813 |
851,813 |
851,813 |
851,813 |
771,813 |
|
Exchange equalisation/fluctuation reserve |
(2,301,936) |
(2,213,649) |
(442,329) |
(534,150) |
(366,532) |
|
Retained profit/(loss) carried forward |
55,796,056 |
57,655,059 |
50,672,881 |
50,334,684 |
42,039,899 |
|
Others |
(797,025) |
(797,025) |
(1,130,050) |
(1,045,840) |
(762,533) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
53,548,908 |
55,496,198 |
49,952,315 |
49,606,507 |
41,682,647 |
|
MINORITY INTEREST |
8,476,373 |
9,075,488 |
7,848,456 |
3,490,573 |
3,774,865 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
69,025,281 |
71,571,686 |
64,800,771 |
60,097,080 |
52,457,512 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO |
|
|
|
R1 INTERNATIONAL PTE LTD |
|
TYPES OF FUNDS |
|||||
|
Cash |
33,037,802 |
20,680,010 |
22,944,446 |
35,610,851 |
30,534,886 |
|
Net Liquid Funds |
31,726,850 |
20,338,455 |
22,944,446 |
35,610,851 |
30,534,886 |
|
Net Liquid Assets |
(36,477,126) |
10,180,930 |
4,524,104 |
(23,576,449) |
(6,067,159) |
|
Net Current Assets/(Liabilities) |
41,816,607 |
48,763,621 |
50,769,566 |
60,023,830 |
51,987,186 |
|
Net Tangible Assets |
60,086,905 |
62,715,226 |
54,895,730 |
60,097,080 |
52,457,512 |
|
Net Monetary Assets |
(46,271,541) |
2,874,169 |
2,914,034 |
(24,280,305) |
(6,140,429) |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
6,411,555 |
15,281,526 |
12,146,999 |
20,634,131 |
29,403,148 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
7,906,795 |
15,934,683 |
12,318,115 |
20,893,674 |
29,769,168 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
100,427,861 |
60,051,431 |
52,101,220 |
134,257,451 |
97,747,329 |
|
Total Liabilities |
221,092,805 |
128,414,344 |
134,369,137 |
253,103,505 |
227,150,618 |
|
Total Assets |
290,118,086 |
199,986,030 |
199,169,908 |
313,200,585 |
279,608,130 |
|
Net Assets |
69,025,281 |
71,571,686 |
64,800,771 |
60,097,080 |
52,457,512 |
|
Net Assets Backing |
69,025,281 |
71,571,686 |
64,800,771 |
60,097,080 |
52,457,512 |
|
Shareholders' Funds |
69,025,281 |
71,571,686 |
64,800,771 |
60,097,080 |
52,457,512 |
|
Total Share Capital |
7,000,000 |
7,000,000 |
7,000,000 |
7,000,000 |
7,000,000 |
|
Total Reserves |
53,548,908 |
55,496,198 |
49,952,315 |
49,606,507 |
41,682,647 |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
(19.35) |
(27.19) |
(30.41) |
(38.16) |
2.23 |
|
Proft/(Loss) Before Tax |
(69.36) |
35.13 |
(42.33) |
(24.73) |
34.28 |
|
Proft/(Loss) After Tax |
(71.90) |
45.47 |
(47.74) |
(17.72) |
36.62 |
|
Total Assets |
45.07 |
0.41 |
(36.41) |
12.01 |
(28.04) |
|
Total Liabilities |
72.17 |
(4.43) |
(46.91) |
11.43 |
(35.41) |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.16 |
0.17 |
0.17 |
0.14 |
0.13 |
|
Liquid Ratio |
0.83 |
1.08 |
1.03 |
0.91 |
0.97 |
|
Current Ratio |
1.20 |
1.40 |
1.38 |
1.24 |
1.23 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
34 |
14 |
12 |
15 |
6 |
|
Debtors Ratio |
33 |
21 |
19 |
19 |
13 |
|
Creditors Ratio |
15 |
13 |
12 |
13 |
8 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
1.45 |
0.84 |
0.80 |
2.23 |
1.86 |
|
Liabilities Ratio |
3.20 |
1.79 |
2.07 |
4.21 |
4.33 |
|
Times Interest Earned Ratio |
2.49 |
5.57 |
4.24 |
4.54 |
3.66 |
|
Assets Backing Ratio |
8.58 |
8.96 |
7.84 |
8.59 |
7.49 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
0.46 |
1.22 |
0.66 |
0.79 |
0.65 |
|
Net Profit Margin |
0.40 |
1.06 |
0.48 |
0.65 |
0.50 |
|
Return On Net Assets |
9.29 |
21.35 |
18.75 |
34.33 |
56.05 |
|
Return On Capital Employed |
6.57 |
15.73 |
14.43 |
32.09 |
52.22 |
|
Return On Shareholders' Funds/Equity |
4.85 |
15.28 |
10.53 |
21.96 |
31.21 |
|
Dividend Pay Out Ratio (Times) |
1.56 |
0.36 |
0.95 |
0.37 |
0 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.94 |
|
|
1 |
INR 91.75 |
|
Euro |
1 |
INR 79.90 |
|
SGD |
1 |
INR 49.90 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.