|
|
|
MIRA
INFORM REPORT
|
Report No. : |
502423 |
|
Report Date : |
13.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
GE PACIFIC PRIVATE LIMITED |
|
|
|
|
Formerly Known As : |
ELECTRONIC COMPONENTS OF GENERAL ELECTRIC (U.S.A) PRIVATE
LIMITED |
|
|
|
|
Registered Office : |
11, North Buona Vista Drive, 09-00, The Metropolis, 138589 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
04.03.1970 |
|
|
|
|
Com. Reg. No.: |
197000148E |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The Subject is principally
engaged in the investment holding company and provision of management
services, trading and servicing of ge products. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
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. |
: |
197000148E |
|
COMPANY NAME |
: |
GE PACIFIC PRIVATE LIMITED |
|
FORMER NAME |
: |
ELECTRONIC COMPONENTS OF GENERAL ELECTRIC (U.S.A) PRIVATE
LIMITED (23/05/1990) |
|
INCORPORATION DATE |
: |
04/03/1970 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
11, NORTH BUONA VISTA DRIVE, 09-00, THE METROPOLIS, 138589,
SINGAPORE. |
|
BUSINESS ADDRESS |
: |
LEVEL 9, THE METROPOLIS TOWER 2, 11 NORTH BUONA VISTA DRIVE,
138589, SINGAPORE. |
|
TEL.NO. |
: |
65-62207022 |
|
FAX.NO. |
: |
65-62262600 |
|
WEB SITE |
: |
WWW.GE.COM/SG |
|
CONTACT PERSON |
: |
QIU ZHONGYU ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
INVESTMENT HOLDING COMPANY AND PROVISION OF MANAGEMENT SERVICES,
TRADING AND SERVICING OF GE PRODUCTS |
|
ISSUED AND PAID UP CAPITAL |
: |
81,000,293.00 ORDINARY SHARE, OF A VALUE OF SGD
2,543,013,977.00 |
|
SALES |
: |
USD 675,558,836 [2016] |
|
NET WORTH |
: |
USD 3,629,760,618 [2016] |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
NO COMPLAINTS |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
GOOD |
|
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)
investment holding company and provision of management services, trading and
servicing of ge products.
The immediate holding company of the Subject is GE PACIFIC
HOLDINGS PTE. LTD., a company incorporated in SINGAPORE.
The ultimate holding company of the Subject is GENERAL ELECTRIC
COMPANY ("GE"), a company incorporated in UNITED STATES.
Former Address(es)
|
Address |
As At Date |
|
240 TANJONG PAGAR ROAD, 12-00 GE TOWER, 088540 |
N/A |
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
10/04/2018 |
SGD 2,543,013,977.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
GE PACIFIC HOLDINGS PTE. LTD. |
11, NORTH BUONA VISTA DRIVE, 09-00, THE METROPOLIS 138589
,SINGAPORE |
199801196D |
81,000,293.00 |
100.00 |
|
--------------- |
------ |
|||
|
81,000,293.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies
(Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
Status |
(%) |
As At |
|
199604051E |
SINGAPORE |
AIRFOIL TECHNOLOGIES INTERNATIONAL - SINGAPORE PTE. LTD. |
- |
100.00 |
31/12/2016 |
|
CHINA |
GE (CHINA) CO., LTD. |
- |
100.00 |
31/12/2016 |
|
|
CHINA |
GE (CHINA) RESEARCH & DEVELOPMENT CENTER CO., LTD |
- |
65.00 |
31/12/2016 |
|
|
SINGAPORE |
GE AVIATION SERVICE OPERATION LLP |
- |
100.00 |
12/09/2017 |
|
|
199604051E |
SINGAPORE |
GE AVIATION, ENGINE SERVICES - SINGAPORE PTE. LTD. |
- |
100.00 |
10/04/2018 |
|
JAPAN |
GE CONSUMER PRODUCTS JAPAN, LTD |
- |
100.00 |
31/12/2016 |
|
|
201627038C |
SINGAPORE |
GE DIGITAL GLOBAL SOFTWARE DEVELOPMENT PTE. LTD. |
- |
100.00 |
10/04/2018 |
|
201627297R |
SINGAPORE |
GE DIGITAL SINGAPORE SOFTWARE SERVICES PTE. LTD. |
- |
100.00 |
10/04/2018 |
|
CHINA |
GE ENERGY HANGZHOU CO., LTD. |
- |
90.00 |
31/12/2016 |
|
|
011 |
KOREA |
GE ENERGY KOREA LTD |
- |
100.00 |
31/12/2016 |
|
NEW ZEALAND |
GE HEALTHCARE LTD NEW ZEALAND |
- |
100.00 |
31/12/2016 |
|
|
199409532W |
SINGAPORE |
GE HEALTHCARE PTE. LTD. |
- |
100.00 |
31/12/2016 |
|
INDIA |
GE INDIA EXPORTS PVT LTD SHARES |
- |
100.00 |
31/12/2016 |
|
|
INDIA |
GE INDIA TECHNOLOGY CENTRE PVT LTD |
- |
100.00 |
31/12/2016 |
|
|
CHINA |
GE INFRASTRUCTURE (SHANGHAI) CO., LTD. |
- |
97.00 |
31/12/2016 |
|
|
CHINA |
GE LIGHTING CO., LTD. |
- |
100.00 |
31/12/2016 |
|
|
011 |
KOREA |
GE LIGHTING KOREA CO LTD |
- |
100.00 |
31/12/2016 |
|
196900109M |
SINGAPORE |
GE MEASUREMENT AND CONTROL (SINGAPORE) PTE. LTD. |
- |
82.73 |
09/06/2017 |
|
TAIWAN |
GE MEDICAL SYSTEMS TAIWAN LTD. |
- |
100.00 |
31/12/2016 |
|
|
264760T |
MALAYSIA |
GE POWER SYSTEMS (MALAYSIA) SDN. BHD. |
- |
100.00 |
25/05/2017 |
|
011 |
KOREA |
GE POWER SYSTEMS KOREA CO, LTD |
- |
100.00 |
31/12/2016 |
|
VIETNAM |
GE VIETNAM LTD |
- |
100.00 |
31/12/2016 |
|
|
CHINA |
GE WATER & PROCESS TECHNOLOGIES (WUXI) CO., LTD |
- |
100.00 |
31/12/2016 |
|
|
CHINA |
GE WIND ENERGY EQUIPMENT MANUFACTURING (SHENYANG) CO. LTD |
- |
100.00 |
31/12/2016 |
|
|
201725358C |
SINGAPORE |
INDUSTRIAL C&S SINGAPORE PTE. LTD. |
- |
100.00 |
10/04/2018 |
|
CHINA |
NEW CHINA CONTROL SYSTEMS LTD. |
- |
100.00 |
31/12/2016 |
|
|
INDONESIA |
PT GE TECHNOLOGY INDONESIA |
- |
80.00 |
31/12/2017 |
|
|
201435837E |
SINGAPORE |
RIG RESEARCH PTE. LTD. |
- |
50.00 |
10/04/2018 |
|
CHINA |
SHANGHAI GE BREAKERS CO., LTD. |
- |
60.00 |
31/12/2016 |
|
|
011121 |
CHINA |
SHANGHAI GE GUANGDIAN CO., LTD. |
- |
60.00 |
31/12/2016 |
|
CHINA |
XIN HUA CONTROL ENGINEERING CO., LTD. |
- |
59.00 |
31/12/2016 |
DIRECTORS
DIRECTOR 1
|
Name Of Subject |
: |
LOUIS WOUTER VAN WERSCH |
|
Address |
: |
11, NORTH BUONA VISTA DRIVE 09-00, THE METROPOLIS, 138589,
SINGAPORE. |
|
Other Address(es) |
: |
3, MERRYN ROAD, DUNEARN ESTATE, 298451, SINGAPORE. |
|
IC / PP No |
: |
G5114011M |
|
Nationality |
: |
DUTCH |
|
Date of Appointment |
: |
21/09/2017 |
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 |
197000148E |
GE PACIFIC PRIVATE LIMITED |
Director |
21/09/2017 |
0.00 |
- |
USD504,799,437.00 |
2016 |
- |
10/04/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
QIU ZHONGYU |
|
Address |
: |
11, NORTH BUONA VISTA DRIVE 09-00, THE METROPOLIS, 138589,
SINGAPORE. |
|
IC / PP No |
: |
S7189261A |
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
21/09/2017 |
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 |
197000148E |
GE PACIFIC PRIVATE LIMITED |
Director |
21/09/2017 |
0.00 |
- |
USD504,799,437.00 |
2016 |
- |
10/04/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
DEVJYOTI RUDRA |
|
Address |
: |
62, LOYANG WAY, 508770, SINGAPORE. |
|
IC / PP No |
: |
G6462883L |
|
Nationality |
: |
AMERICAN |
|
Date of Appointment |
: |
04/03/2016 |
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 |
197000148E |
GE PACIFIC PRIVATE LIMITED |
Director |
04/03/2016 |
0.00 |
- |
USD504,799,437.00 |
2016 |
- |
10/04/2018 |
DIRECTOR 4
|
Name Of Subject |
: |
VONO JAMES G |
|
Address |
: |
11, NORTH BUONA VISTA DRIVE 09-00, THE METROPOLIS, 138589,
SINGAPORE. |
|
IC / PP No |
: |
G3394292W |
|
Nationality |
: |
AMERICAN |
|
Date of Appointment |
: |
31/10/2017 |
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 |
197000148E |
GE PACIFIC PRIVATE LIMITED |
Director |
31/10/2017 |
0.00 |
- |
USD504,799,437.00 |
2016 |
- |
10/04/2018 |
DIRECTOR 5
|
Name Of Subject |
: |
ESKES MYRA FILINE |
|
Address |
: |
82, BINJAI PARK, BINJAI PARK, 589878, SINGAPORE. |
|
IC / PP No |
: |
G3277735Q |
|
Nationality |
: |
DUTCH |
|
Date of Appointment |
: |
05/12/2016 |
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 |
199409532W |
GE HEALTHCARE PTE. LTD. |
Director |
05/12/2016 |
0.00 |
- |
USD26,758,321.00 |
2016 |
- |
23/10/2017 |
|
2 |
197000148E |
GE PACIFIC PRIVATE LIMITED |
Director |
05/12/2016 |
0.00 |
- |
USD504,799,437.00 |
2016 |
- |
10/04/2018 |
DIRECTOR 6
|
Name Of Subject |
: |
LIANG CAO |
|
Address |
: |
APARTMENT 26A, TOWER 2, GATEWAY PLAZA, 2601 XIETU ROAD,
SHANGHAI, 200030, CHINA. |
|
IC / PP No |
: |
G44052602 |
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
30/06/2017 |
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 |
197000148E |
GE PACIFIC PRIVATE LIMITED |
Director |
30/06/2017 |
0.00 |
- |
USD504,799,437.00 |
2016 |
- |
10/04/2018 |
DIRECTOR 7
|
Name Of Subject |
: |
LAI YEOW HIN |
|
Address |
: |
11, NORTH BUONA VISTA DRIVE, 09-00, THE METROPOLIS, 138589,
SINGAPORE. |
|
IC / PP No |
: |
S1660993E |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
23/05/2017 |
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 |
197000148E |
GE PACIFIC PRIVATE LIMITED |
Director |
23/05/2017 |
0.00 |
- |
USD504,799,437.00 |
2016 |
- |
10/04/2018 |
DIRECTOR 8
|
Name Of Subject |
: |
JASON JOACHIM TONICH |
|
Address |
: |
11, NORTH BUONA VISTA DRIVE 09-00, THE METROPOLIS, 138589,
SINGAPORE. |
|
IC / PP No |
: |
G5734093U |
|
Nationality |
: |
AUSTRALIAN |
|
Date of Appointment |
: |
02/04/2018 |
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 |
197000148E |
GE PACIFIC PRIVATE LIMITED |
Director |
02/04/2018 |
0.00 |
- |
USD504,799,437.00 |
2016 |
- |
10/04/2018 |
MANAGEMENT
|
1) |
Name of Subject |
: |
QIU ZHONGYU |
|
Position |
: |
DIRECTOR |
|
|
|
AUDITOR |
|
Auditor |
: |
KPMG LLP |
|
Auditor' Address |
: |
N/A |
|
|
COMPANY SECRETARIES |
|
1) |
Company Secretary |
: |
SUKHDEEP KAUR D/O RANJIT SINGH |
|
IC / PP No |
: |
S8127018Z |
|
|
Address |
: |
11, NORTH BUONA VISTA DRIVE 09-00, THE METROPOLIS, 138589,
SINGAPORE. |
|
BANKING |
No Banker found in our databank.
ENCUMBRANCE (S) |
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
NULL |
- |
N/A |
NEDERLANDSE FINANCIERINGS-MAATSCHAPPIJ VOOR ONTWIKKELINGSLANDEN
N.V. |
- |
Unsatisfied |
|
C201207338 |
03/07/2012 |
N/A |
EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT |
- |
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 |
: |
ASIA PACIFIC |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS |
|
Goods Traded |
: |
GE PRODUCTS |
|
|
Services |
: |
INVESTMENT HOLDING COMPANY AND PROVISION OF MANAGEMENT SERVICES |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
||||||||
|
|
|||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
384 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) investment holding
company and provision of management services, trading and servicing of ge products.
The principal activities of the Subject consist of an investment holding
company, the provision of management services, financial and sales,
distribution and service of GE products.
Background:
* The Subject is part of the GE group.it is a diversified technology, media and
financial services company.
Singapore and south east Asia business includes:
* consumer finance
* commercial finance which provides SME and enterprise financing
solutions
* Ge healthcare
* Cnbc Asia-Pacific
* a number of key GE businesses have their regional headquarters in Singapore
where they direct the company's operations in southeast asia and in some cases,
the entire Asia Pacific basin.
CURRENT INVESTIGATION |
Latest fresh investigations carried out on the Subject indicated
that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62207022 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
LEVEL 9, THE METROPOLIS TOWER 2, 11 NORTH BUONA VISTA DRIVE
138589 SINGAPORE |
|
Current Address |
: |
LEVEL 9, THE METROPOLIS TOWER 2, 11 NORTH BUONA VISTA DRIVE,
138589, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We have contacted one of the staff from the Subject and she
provided some information.
The Subject refused to disclose its number of employees and bankers.
FINANCIAL ANALYSIS
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
13.91% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
14.58% |
] |
|
|
The fluctuating turnover reflects the fierce competition among
the existing and new market players.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 |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
1 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
5 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
1 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding
cost. This had reduced funds being tied up in stocks. The favourable debtors'
days could be due to the good credit control measures implemented by the
Subject. The Subject had a favourable creditors' ratio where the Subject
could be taking advantage of the cash discounts and also wanting to maintain
goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
1.20 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.20 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 |
[ |
79.91 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 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 had no
gearing and hence it had virtually no financial risk. The Subject was
financed by its shareholders' funds and internally generated fund. During the
economic downturn, the Subject, having a zero gearing, will be able to
compete better than those which are highly geared in the same industry. |
||||||
|
Overall Assessment : |
||||||
|
Although the turnover was erratic, the Subject had maintained a
steady growth in its profit. This indicate the management's efficiency in
controlling its costs and profitability. 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 was a zero gearing company, it was solely dependant on its
shareholders to provide funds to finance its business. The Subject has good
chance of getting loans, if the needs arises. |
||||||
|
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 : |
ECONOMY |
|
In the fourth quarter of 2017,
the economy grew by 3.6% on a year-on-year basis, moderating from the 5.5%
growth in the previous quarter. The sectors which contributed the most to
growth in the quarter were the manufacturing and finance & insurance sectors.
For the whole of 2017, the economy expanded by 3.6%, higher than the 2.4%
growth in 2016. All major sectors grew in 2017, with the exception of the
construction sector. The manufacturing and finance & insurance sectors
were the key contributors to overall GDP growth. |
|
|
The manufacturing sector
expanded by 4.8% in the fourth quarter 2017, slowing from the 19% surge in
the third quarter. Growth was led by robust output expansions in the
electronics and precision engineering clusters, which more than offset declines
in the biomedical manufacturing and transport engineering clusters. For full
year 2017, the manufacturing sector grew by 10%, higher than the 3.7% growth
in 2016. Growth was primarily driven by the electronics and precision
engineering clusters, while output declines in the biomedical manufacturing,
transport engineering and general manufacturing clusters weighed on growth. |
|
|
The services producing
industries collectively expanded to 3.5% in the fourth quarter 2017, the same
pace of growth as the previous quarter. Among the services sectors, the
finance & insurance sector registered the strongest growth at 6.3%,
followed by the information & communications (6.0%) and the
transportation & storage (5.3%) sectors. Services producing industries as
a whole expanded to 2.8% in full year 2017, faster than the 1.4% growth in
2016. All services sectors saw positive growth. |
|
|
Among the services sectors, the
transportation & storage and finance & insurance sectors registered
the fastest pace of growth in 2017. Growth of the transportation &
storage sector came in at 4.8%, a pickup from the 1.3% in 2016, largely due
to stronger growth in the water transport and air transport segments.
Similarly, the finance & insurance sector expanded by 4.8%, improving
from the 1.6% growth in 2016. The robust performance of the sector was
largely because of strong growth in the fund management segment, even as
growth in the financial intermediation and insurance segments remained firm. |
|
|
Besides, the construction
sector contracted to 5.0%, extending the 9.3% decline in the third quarter
2017. The output of the sector was weighed down primarily by the weakness in
private sector construction activities, as certified payments across all
private construction segments declined. Meanwhile, the construction sector
contracted to 8.4% in 2017, a reversal from the 1.9% growth in 2016. Output
in the sector was primarily weighed down by the weakness in private sector
construction works. |
|
|
In the fourth quarter 2017,
total demand rose by 4.9%, lower than the 5.5% growth in the preceding
quarter. For the whole of 2017, growth in total demand came in at 4.4%, an
improvement from the 1.6% in 2016. External demand was the key contributor to
total demand growth (3.0 percentage-points), while the contribution from
domestic demand was also positive (1.4 percentage-points). |
|
|
Total domestic demand rose by
6.6 % in the fourth quarter 2017, following the 8.5% growth in the previous
quarter. Growth was supported primarily by the build-up in inventories and
also higher consumption expenditure. Gross fixed capital formation also
contributed positively to total domestic demand growth in the quarter. For
2017 as a whole, total domestic demand increased by 5.4%, higher than the
3.1% expansion in 2016. Meanwhile, external demand rose by 4.2% in the fourth
quarter 2017, similar to the 4.4% growth in the preceding quarter. The
increase in external demand was primarily due to higher real merchandise
exports. For the full year 2017, external demand grew at a faster pace of
4.1%, compared to the 1.1% growth in 2016. |
|
|
Total consumption expenditure
rose at a slower pace of 4.4% in the fourth quarter 2017, compared to the
5.7% expansion in the previous quarter. For the full year 2017, total
consumption expenditure grew by 3.3%, an improvement from the 2.1% growth in
2016, on the back of faster growth in both public and private consumption.
Public consumption expanded by 4.1%, compared to 3.5% in 2016, while private
consumption grew by 3.1%, compared to 1.7% in the previous year. Expenditure
on miscellaneous goods & services, recreation & culture and housing
& utilities were the main contributors to private consumption growth. |
|
|
Since November 2017, the
outlook for global growth has improved slightly with the IMF upgrading its
global growth forecast for 2018 to 3.9%, partly on the back of higher growth
expected in the US due to the recently approved tax reforms. However, as
compared to 2017, growth in most of Singapore’s key final demand markets such
as the Eurozone, Japan, NIEs and ASEAN-5 is projected to moderate or remain
unchanged in 2018. In the US, GDP growth is projected to improve further in
2018, supported by domestic demand and fiscal stimulus arising from the
recently approved tax reforms, although there are uncertainties around the
extent to which investments would respond to the tax reforms. On the other
hand, growth in the Eurozone economy is projected to moderate in 2018,
following the rebound seen in 2017. Growth will be underpinned by continued
improvements in labour market conditions and largely accommodative monetary
policies. |
|
|
In Asia, China’s growth is also
expected to ease in 2018 on the back of a slowdown in investment, even as
consumption is likely to remain stable and provide support to growth. Meanwhile,
growth in the key ASEAN economies is expected to remain firm in 2018,
supported by sustained improvements in domestic demand as well as merchandise
exports. On balance, the external demand outlook for Singapore is expected to
be slightly weaker in 2018 as compared to 2017. Taking into account the
global and domestic economic environments, Ministry of Trade and Industry
(MTI) has maintained the 2018 GDP growth forecast at “1.5 to 3.5%”. MTI’s
central view is that growth will likely come in slightly above the middle of
the forecast range, barring the materialisation of downside risks. |
|
|
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. |
|
GE PACIFIC PRIVATE LIMITED |
|
Financial Year End |
2016-12-31 |
2015-12-31 |
2014-12-31 |
2013-12-31 |
2012-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
Company |
|
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 |
675,558,836 |
254,075,168 |
357,838,571 |
1,022,661,611 |
525,167,785 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
675,558,836 |
254,075,168 |
357,838,571 |
1,022,661,611 |
525,167,785 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
522,487,214 |
9,911,569 |
9,569,010 |
775,384,699 |
224,455,069 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
522,487,214 |
9,911,569 |
9,569,010 |
775,384,699 |
224,455,069 |
|
Taxation |
(17,687,777) |
17,222,982 |
7,387,297 |
(51,043,009) |
(16,132,730) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
504,799,437 |
27,134,551 |
16,956,307 |
724,341,690 |
208,322,339 |
|
Pre-acquisition profit/(loss) |
- |
- |
- |
- |
4,393,800 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
504,799,437 |
27,134,551 |
16,956,307 |
724,341,690 |
212,716,139 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
504,799,437 |
27,134,551 |
16,956,307 |
724,341,690 |
212,716,139 |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
1,269,184,540 |
1,242,049,989 |
1,296,533,682 |
1,309,191,992 |
1,121,475,853 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
1,269,184,540 |
1,242,049,989 |
1,296,533,682 |
1,309,191,992 |
1,121,475,853 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
1,773,983,977 |
1,269,184,540 |
1,313,489,989 |
2,033,533,682 |
1,334,191,992 |
|
DIVIDENDS - Ordinary (paid & proposed) |
- |
- |
(71,440,000) |
(737,000,000) |
(25,000,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
1,773,983,977 |
1,269,184,540 |
1,242,049,989 |
1,296,533,682 |
1,309,191,992 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Others |
6,621,103 |
254,552 |
812,339 |
35,801 |
42,171 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
6,621,103 |
254,552 |
812,339 |
35,801 |
42,171 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
2,301,916 |
3,013,092 |
1,977,755 |
1,184,505 |
1,832,405 |
|
AMORTIZATION |
- |
- |
- |
11,937 |
268,114 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
2,301,916 |
3,013,092 |
1,977,755 |
1,196,442 |
2,100,519 |
|
============= |
============= |
============= |
============= |
============= |
BALANCE SHEET
|
GE PACIFIC PRIVATE LIMITED |
|
ASSETS EMPLOYED: |
|
||||
|
FIXED ASSETS |
6,664,984 |
8,989,632 |
12,494,503 |
3,513,701 |
3,630,906 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Subsidiary companies |
3,117,168,532 |
2,755,437,020 |
873,842,671 |
858,969,981 |
884,406,365 |
|
Associated companies |
92,668,773 |
92,668,773 |
92,718,773 |
92,668,773 |
92,668,773 |
|
Investments |
75,370,875 |
79,058,093 |
71,781,024 |
65,366,568 |
68,811,368 |
|
Deferred assets |
21,221,204 |
12,727,375 |
5,467,821 |
- |
- |
|
Others |
5,903,799 |
9,837,658 |
9,325,000 |
9,700,000 |
9,700,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
3,312,333,183 |
2,949,728,919 |
1,053,135,289 |
1,026,705,322 |
1,055,586,506 |
|
INTANGIBLE ASSETS |
|||||
|
Others |
- |
- |
- |
- |
11,772 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
- |
- |
- |
- |
11,772 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
3,318,998,167 |
2,958,718,551 |
1,065,629,792 |
1,030,219,023 |
1,059,229,184 |
|
CURRENT ASSETS |
|||||
|
Stocks |
2,772,258 |
5,236,664 |
12,692,851 |
10,828,174 |
13,355,336 |
|
Trade debtors |
8,794,747 |
10,978,977 |
22,431,405 |
21,191,844 |
26,406,952 |
|
Other debtors, deposits & prepayments |
848,844 |
122,813,370 |
192,033,413 |
159,944,452 |
30,660,510 |
|
Amount due from related companies |
1,822,240,040 |
857,510,627 |
233,966,104 |
152,802,308 |
130,547,193 |
|
Cash & bank balances |
9,693,196 |
23,919,918 |
117,771,735 |
127,503,968 |
453,224,979 |
|
Others |
21,268,974 |
35,625,404 |
8,476,501 |
- |
45,208,134 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
1,865,618,059 |
1,056,084,960 |
587,372,009 |
472,270,746 |
699,403,104 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
5,184,616,226 |
4,014,803,511 |
1,653,001,801 |
1,502,489,769 |
1,758,632,288 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
2,409,610 |
3,227,000 |
9,121,517 |
23,275,667 |
19,495,174 |
|
Other creditors & accruals |
9,403,556 |
11,476,641 |
18,768,023 |
349,712 |
211,351 |
|
Bank overdraft |
- |
50,676 |
- |
- |
576,987 |
|
Amounts owing to related companies |
1,525,464,574 |
871,978,180 |
370,172,690 |
148,630,128 |
368,240,919 |
|
Provision for taxation |
- |
- |
- |
21,459,100 |
15,083,667 |
|
Other liabilities |
17,577,868 |
653,684 |
977,361 |
- |
32,819,572 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
1,554,855,608 |
887,386,181 |
399,039,591 |
193,714,607 |
436,427,670 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
310,762,451 |
168,698,779 |
188,332,418 |
278,556,139 |
262,975,434 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
|||||
|
Deferred taxation |
- |
- |
- |
329,259 |
131,376 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
- |
- |
- |
329,259 |
131,376 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
3,629,760,618 |
3,127,417,330 |
1,253,962,210 |
1,308,445,903 |
1,322,073,242 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED BY: |
|||||
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
1,860,660,894 |
1,860,660,894 |
14,660,894 |
14,660,894 |
12,881,250 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
1,860,660,894 |
1,860,660,894 |
14,660,894 |
14,660,894 |
12,881,250 |
|
RESERVES |
|||||
|
General reserve |
(2,135,580) |
320,569 |
- |
- |
- |
|
Retained profit/(loss) carried forward |
1,773,983,977 |
1,269,184,540 |
1,242,049,989 |
1,296,533,682 |
1,309,191,992 |
|
Others |
(2,748,673) |
(2,748,673) |
(2,748,673) |
(2,748,673) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
1,769,099,724 |
1,266,756,436 |
1,239,301,316 |
1,293,785,009 |
1,309,191,992 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
3,629,760,618 |
3,127,417,330 |
1,253,962,210 |
1,308,445,903 |
1,322,073,242 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO |
|
GE PACIFIC PRIVATE LIMITED |
|
TYPES OF FUNDS |
|||||
|
Cash |
9,693,196 |
23,919,918 |
117,771,735 |
127,503,968 |
453,224,979 |
|
Net Liquid Funds |
9,693,196 |
23,869,242 |
117,771,735 |
127,503,968 |
452,647,992 |
|
Net Liquid Assets |
307,990,193 |
163,462,115 |
175,639,567 |
267,727,965 |
249,620,098 |
|
Net Current Assets/(Liabilities) |
310,762,451 |
168,698,779 |
188,332,418 |
278,556,139 |
262,975,434 |
|
Net Tangible Assets |
3,629,760,618 |
3,127,417,330 |
1,253,962,210 |
1,308,445,903 |
1,322,061,470 |
|
Net Monetary Assets |
307,990,193 |
163,462,115 |
175,639,567 |
267,398,706 |
249,488,722 |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
529,108,317 |
10,166,121 |
10,381,349 |
775,420,500 |
224,497,240 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
531,410,233 |
13,179,213 |
12,359,104 |
776,616,942 |
226,597,759 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
0 |
50,676 |
0 |
0 |
576,987 |
|
Total Liabilities |
1,554,855,608 |
887,386,181 |
399,039,591 |
194,043,866 |
436,559,046 |
|
Total Assets |
5,184,616,226 |
4,014,803,511 |
1,653,001,801 |
1,502,489,769 |
1,758,632,288 |
|
Net Assets |
3,629,760,618 |
3,127,417,330 |
1,253,962,210 |
1,308,445,903 |
1,322,073,242 |
|
Net Assets Backing |
3,629,760,618 |
3,127,417,330 |
1,253,962,210 |
1,308,445,903 |
1,322,073,242 |
|
Shareholders' Funds |
3,629,760,618 |
3,127,417,330 |
1,253,962,210 |
1,308,445,903 |
1,322,073,242 |
|
Total Share Capital |
1,860,660,894 |
1,860,660,894 |
14,660,894 |
14,660,894 |
12,881,250 |
|
Total Reserves |
1,769,099,724 |
1,266,756,436 |
1,239,301,316 |
1,293,785,009 |
1,309,191,992 |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
165.89 |
(29.00) |
(65.01) |
94.73 |
(37.20) |
|
Proft/(Loss) Before Tax |
5,171.49 |
3.58 |
(98.77) |
245.45 |
(64.90) |
|
Proft/(Loss) After Tax |
1,760.36 |
60.03 |
(97.66) |
247.70 |
(65.88) |
|
Total Assets |
29.14 |
142.88 |
10.02 |
(14.56) |
23.56 |
|
Total Liabilities |
75.22 |
122.38 |
105.64 |
(55.55) |
51.07 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.01 |
0.03 |
0.30 |
0.66 |
1.04 |
|
Liquid Ratio |
1.20 |
1.18 |
1.44 |
2.38 |
1.57 |
|
Current Ratio |
1.20 |
1.19 |
1.47 |
2.44 |
1.60 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
1 |
8 |
13 |
4 |
9 |
|
Debtors Ratio |
5 |
16 |
23 |
8 |
18 |
|
Creditors Ratio |
1 |
5 |
9 |
8 |
14 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0 |
0 |
0 |
0 |
0 |
|
Liabilities Ratio |
0.43 |
0.28 |
0.32 |
0.15 |
0.33 |
|
Times Interest Earned Ratio |
79.91 |
39.94 |
12.78 |
21,659.19 |
5,323.50 |
|
Assets Backing Ratio |
1.95 |
1.68 |
85.53 |
89.25 |
102.63 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
77.34 |
3.90 |
2.67 |
75.82 |
42.74 |
|
Net Profit Margin |
74.72 |
10.68 |
4.74 |
70.83 |
40.50 |
|
Return On Net Assets |
14.58 |
0.33 |
0.83 |
59.26 |
16.98 |
|
Return On Capital Employed |
14.58 |
0.33 |
0.83 |
59.25 |
16.97 |
|
Return On Shareholders' Funds/Equity |
13.91 |
0.87 |
1.35 |
55.36 |
16.09 |
|
Dividend Pay Out Ratio (Times) |
0 |
0 |
4.21 |
1.02 |
0.12 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.35 |
|
|
1 |
INR 92.70 |
|
Euro |
1 |
INR 80.80 |
|
SGD |
1 |
INR 49.76 |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.