|
|
|
MIRA
INFORM REPORT
|
Report No. : |
503962 |
|
Report Date : |
18.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
MITSUBISHI
CORPORATION |
|
|
|
|
Registered Office : |
1, Temasek Avenue, 19-00, Millenia Tower,
039192 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation : |
17.11.1955 |
|
|
|
|
Com. Reg. No.: |
S55FC1163C |
|
|
|
|
Legal Form : |
Foreign |
|
|
|
|
Line of Business : |
The subject is principally engaged in the
act as principal and commission agent in general trading transaction,
provision of construction and industrial projects installation activities. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous
Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
SINGAPORE - ECONOMIC OVERVIEW
Singapore has a highly developed and successful free-market economy. It
enjoys a remarkably open and corruption-free environment, stable prices, and a
per capita GDP higher than that of most developed countries. Unemployment is
very low. The economy depends heavily on exports, particularly of consumer
electronics, information technology products, medical and optical devices,
pharmaceuticals, and on its vibrant transportation, business, and financial
services sectors.
The economy contracted 0.6% in 2009 as a result of the global financial
crisis, but has continued to grow since 2010. Growth in 2014-17 was slower than
during the previous decade, at under 3% annually, largely a result of soft
demand for exports amid a sluggish global economy and weak growth in
Singapore’s manufacturing sector.
The government is attempting to restructure Singapore’s economy by
weaning its dependence on foreign labor, addressing weak productivity growth,
and increasing Singaporean wages. Singapore has attracted major investments in
advanced manufacturing, pharmaceuticals, and medical technology production and
will continue efforts to strengthen its position as Southeast Asia's leading
financial and technology hub. Singapore is a member of the Regional
Comprehensive Economic Partnership negotiations with the nine other ASEAN
members plus Australia, China, India, Japan, South Korea, and New Zealand. In
2015, Singapore formed, with the other ASEAN members, the ASEAN Economic
Community.
|
Source
: CIA |
EXECUTIVE
SUMMARY
|
|
REGISTRATION NO. |
: |
S55FC1163C |
||||
|
COMPANY NAME |
: |
MITSUBISHI CORPORATION |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
17/11/1955 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
FOREIGN |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
1, TEMASEK AVENUE, 19-00, MILLENIA TOWER,
039192, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
1, TEMASEK AVENUE, 19-00, MILLENIA TOWER,
039192, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-63381100 |
||||
|
FAX.NO. |
: |
65-63388361 |
||||
|
WEB SITE |
: |
WWW.MITSUBISHICORP.COM/SG |
||||
|
CONTACT PERSON |
: |
AKIHIKO NISHIYAMA ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
ACT AS PRINCIPAL AND COMMISSION AGENT IN
GENERAL TRADING TRANSACTION, PROVISION OF CONSTRUCTION AND INDUSTRIAL
PROJECTS INSTALLATION ACTIVITIES |
||||
|
SALES |
: |
USD 574,644,344 [2017] |
||||
|
NET WORTH |
: |
USD 77,205,573 [2017] |
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
TRACED |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
REGULAR |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
||||
HISTORY /
BACKGROUND
|
The subject is principally engaged in the (as
a / as an) act as principal and commission agent in general trading
transaction, provision of construction and industrial projects installation
activities.
No shareholders was found in our databank at
the time of investigation
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
AKIRA MUROKOSHI |
|
Address |
: |
9-18-311, ONARIMACHI, KAMAKURA-SHI,
KANAGAWA, JAPAN, JAPAN. |
|
IC / PP No |
: |
TK6615821 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
23/06/2017 |
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 |
992285H |
MITSUBISHI CORPORATION |
Director |
23/06/2017 |
0.00 |
- |
MYR1,558,978.00 |
2014 |
- |
26/03/2018 |
|
2 |
S55FC1163C |
MITSUBISHI CORPORATION |
Director |
23/06/2017 |
0.00 |
- |
USD12,684,009.00 |
2017 |
- |
18/04/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
AKIHIKO NISHIYAMA |
|
Address |
: |
185-3 NOGAWA MIYAMAE-KU, KAWASAKI-SHI,
KANAGAWA-KEN, JAPAN. |
|
IC / PP No |
: |
TH9500536 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
19/06/2015 |
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 |
992285H |
MITSUBISHI CORPORATION |
Director |
19/06/2015 |
0.00 |
- |
MYR1,558,978.00 |
2014 |
- |
26/03/2018 |
|
2 |
S55FC1163C |
MITSUBISHI CORPORATION |
Director |
19/06/2015 |
0.00 |
- |
USD12,684,009.00 |
2017 |
- |
18/04/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
HIDEAKI OMIYA |
|
Address |
: |
1-18-507, HIROO, 4-CHOME, SHIBUYA-KU,
TOKYO, JAPAN. |
|
IC / PP No |
: |
TR5252911 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
24/06/2016 |
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 |
992285H |
MITSUBISHI CORPORATION |
Director |
24/06/2016 |
0.00 |
- |
MYR1,558,978.00 |
2014 |
- |
26/03/2018 |
|
2 |
S55FC1163C |
MITSUBISHI CORPORATION |
Director |
24/06/2016 |
0.00 |
- |
USD12,684,009.00 |
2017 |
- |
18/04/2018 |
|
3 |
993470H |
MITSUBISHI HEAVY INDUSTRIES, LTD. |
Director |
27/06/2002 |
0.00 |
- |
MYR(45,774,559.00) |
2017 |
- |
26/03/2018 |
DIRECTOR 4
|
Name Of Subject |
: |
HIDEHIRO KONNO |
|
Address |
: |
28-3, KAMISOSHIGAYA, 7-CHOME, SETAGAYA-KU,
TOKYO, JAPAN. |
|
IC / PP No |
: |
TF9769245 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
24/06/2010 |
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 |
S55FC1163C |
MITSUBISHI CORPORATION |
Director |
24/06/2010 |
0.00 |
- |
USD12,684,009.00 |
2017 |
- |
18/04/2018 |
DIRECTOR 5
|
Name Of Subject |
: |
TAKEHIKO KAKIUCHI |
|
Address |
: |
10-3-3401, FUJIMI, 2-CHOME, CHIYODA-KU,
TOKYO, JAPAN, JAPAN. |
|
IC / PP No |
: |
TH4984537 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
24/06/2016 |
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 |
992285H |
MITSUBISHI CORPORATION |
Director |
24/06/2016 |
0.00 |
- |
MYR1,558,978.00 |
2014 |
- |
26/03/2018 |
|
2 |
S55FC1163C |
MITSUBISHI CORPORATION |
Director |
24/06/2016 |
0.00 |
- |
USD12,684,009.00 |
2017 |
- |
18/04/2018 |
DIRECTOR 6
|
Name Of Subject |
: |
EIICHI TANABE |
|
Address |
: |
17-6, MEJIRO, 3-CHOME, TOSHIMA-KU, TOKYO,
JAPAN. |
|
IC / PP No |
: |
TR4136303 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
24/06/2016 |
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 |
992285H |
MITSUBISHI CORPORATION |
Director |
24/06/2016 |
0.00 |
- |
MYR1,558,978.00 |
2014 |
- |
26/03/2018 |
|
2 |
S55FC1163C |
MITSUBISHI CORPORATION |
Director |
24/06/2016 |
0.00 |
- |
USD12,684,009.00 |
2017 |
- |
18/04/2018 |
DIRECTOR 7
|
Name Of Subject |
: |
TOSHIKO OKA |
|
Address |
: |
17-50-2403, AKASAKA 2-CHOME MINATO-KU,
TOKYO, JAPAN. |
|
IC / PP No |
: |
TR7264394 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
24/06/2016 |
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 |
S55FC1163C |
MITSUBISHI CORPORATION |
Director |
24/06/2016 |
0.00 |
- |
USD12,684,009.00 |
2017 |
- |
18/04/2018 |
DIRECTOR 8
|
Name Of Subject |
: |
KEN KOBAYASHI |
|
Address |
: |
11-11-401, SHIROKANEDAI 5-CHOME MINATO-KU,
TOKYO, JAPAN. |
|
Other Address(es) |
: |
24-30, KAMARIYAMINAMI 4-CHOME, KANAGAWA-KU,
YOKOHAMA-SHI, KANAGAWA-KEN, JAPAN. |
|
IC / PP No |
: |
TZ0216956 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
24/06/2010 |
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 |
S55FC1163C |
MITSUBISHI CORPORATION |
Director |
24/06/2010 |
0.00 |
- |
USD12,684,009.00 |
2017 |
- |
18/04/2018 |
DIRECTOR 9
|
Name Of Subject |
: |
MASAKAZU SAKAKIDA |
|
Address |
: |
2-24-5-1904, KITAOOTSUKA, TOSHIMA-KU,
TOKYO, JAPAN. |
|
IC / PP No |
: |
TK5842823 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
23/06/2017 |
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 |
992285H |
MITSUBISHI CORPORATION |
Director |
23/06/2017 |
0.00 |
- |
MYR1,558,978.00 |
2014 |
- |
26/03/2018 |
|
2 |
S55FC1163C |
MITSUBISHI CORPORATION |
Director |
23/06/2017 |
0.00 |
- |
USD12,684,009.00 |
2017 |
- |
18/04/2018 |
DIRECTOR 10
|
Name Of Subject |
: |
AKITAKA SAIKI |
|
Address |
: |
14-19, YAKUMO 3-CHOME MEGURO-KU, TOKYO,
JAPAN. |
|
Other Address(es) |
: |
3-14-19, YAKUMO, MEGURO-KU, TOKYO, JAPAN |
|
IC / PP No |
: |
TR6291379 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
23/06/2017 |
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 |
992285H |
MITSUBISHI CORPORATION |
Director |
23/06/2017 |
0.00 |
- |
MYR1,558,978.00 |
2014 |
- |
26/03/2018 |
|
2 |
S55FC1163C |
MITSUBISHI CORPORATION |
Director |
23/06/2017 |
0.00 |
- |
USD12,684,009.00 |
2017 |
- |
18/04/2018 |
DIRECTOR 11
|
Name Of Subject |
: |
KAZUYUKI MASU |
|
Address |
: |
27-3, OKUSAWA 1-CHOME SETAGAYA-KU, TOKYO,
JAPAN. |
|
IC / PP No |
: |
TR6943907 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
24/06/2016 |
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 |
S55FC1163C |
MITSUBISHI CORPORATION |
Director |
24/06/2016 |
0.00 |
- |
USD12,684,009.00 |
2017 |
- |
18/04/2018 |
DIRECTOR 12
|
Name Of Subject |
: |
IWAO TOIDE |
|
Address |
: |
2-6-15-309, HIMONYA MEGURO-KU, TOKYO,
JAPAN. |
|
IC / PP No |
: |
TR9578349 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
23/06/2017 |
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 |
S55FC1163C |
MITSUBISHI CORPORATION |
Director |
23/06/2017 |
0.00 |
- |
USD12,684,009.00 |
2017 |
- |
18/04/2018 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
AKIHIKO NISHIYAMA |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
DELOITTE & TOUCHE LLP |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MASAKI YAMANO |
|
IC / PP No |
: |
G3354449P |
|
|
Address |
: |
6, NAROOMA ROAD, DUNEARN ESTATE, 298300,
SINGAPORE. |
|
|
Remarks |
: |
AUTHORISED REPRESENTATIVE |
|
|
2) |
Company Secretary |
: |
MITSUHIRO SUGIMOTO |
|
IC / PP No |
: |
G3257937Q |
|
|
Address |
: |
18, MARINA BOULEVARD, 33-07, MARINA BAY
RESIDENCES, 018980, SINGAPORE. |
|
|
Remarks |
: |
AUTHORISED REPRESENTATIVE |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
MIZUHO CORPORATE BANK, LTD |
|
2) |
Name |
: |
THE BANK OF TOKYO-MITSUBISHI UFJ, LTD
(SINGAPORE BRANCH) |
ENCUMBRANCE (S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C201113090 |
17/10/2011 |
N/A |
SHINSEI BANK, LIMITED |
- |
Unsatisfied |
|
C201600183 |
08/01/2016 |
N/A |
SUMITOMO MITSUI BANKING CORPORATION |
- |
Unsatisfied |
|
C201600206 |
08/01/2016 |
N/A |
SUMITOMO MITSUI BANKING CORPORATION |
- |
Unsatisfied |
|
C201708263 |
15/08/2017 |
N/A |
SUMITOMO MITSUI BANKING CORPORATION |
- |
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 winding up petition was found in our databank.
|
LEGAL ACTION |
|
||||||
|
|||||||
|
|||||||
|
Total PENDING Case(s) : 1 |
|
||||||
|
|||||||
|
Case Status |
: |
PENDING |
|||||
|
Code No |
: |
99 |
Case No |
: |
106 |
||
|
Year |
: |
2008 |
Place |
: |
SINGAPORE |
||
|
Court |
: |
SUPREME COURT |
|||||
|
Date Filed |
: |
15/02/2008 |
|||||
|
Solicitor |
: |
KRISHANASAMY RAVINTHERAN |
|||||
|
Solicitor Firm |
: |
K RAVI ASSOCIATES |
|||||
|
Plaintiff |
: |
SHAZAHAN JAMAL UDDIN |
|||||
|
DEFENDANTS |
: |
MITSUBISHI CORPORATION (S55FC1163) |
|||||
|
Amount Claimed |
: |
350000 |
|||||
|
Nature of Claim |
: |
SGD |
|||||
|
Remark |
: |
TORT-NEGLIGENCE |
|||||
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 |
: |
ASIA |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
TELEGRAPHIC TRANSFER (TT) |
|||
OPERATIONS
|
|
Services |
: |
ACT AS PRINCIPAL AND COMMISSION AGENT IN
GENERAL TRADING TRANSACTION, PROVISION OF CONSTRUCTION AND INDUSTRIAL
PROJECTS INSTALLATION ACTIVITIES |
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2016 |
2015 |
2014 |
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
120 |
120 |
120 |
||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) act as principal and
commission agent in general trading transaction, provision of construction and
industrial projects installation activities.
The Subject do trading in industrial raw materials and general organizers of
infrastructure projects
The Subject's business fields cover the followings:
* Energy, Machinery/Metal/Global Environment
* Infrastructure, construction Business
* Logistics & Development
* Chemicals and Living Essentials
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-63381100 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
SINGAPORE BRANCH 1 TEMASEK AVENUE # 19-00
MILLENIA TOWER 039192 SINGAPORE |
|
Current Address |
: |
1, TEMASEK AVENUE, 19-00, MILLENIA TOWER,
039192, 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.
The Subject refused to disclose its number of employees.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2013 - 2017 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2013 - 2017 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
16.43% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
20.83% |
] |
|
|
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 |
||||||
|
Debtor Ratio |
: |
Unfavourable |
[ |
66 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
55 Days |
] |
|
|
The high debtors' ratio could indicate that
the Subject was weak in its credit control. However, the Subject could also
giving longer credit periods to its customers in order to boost its sales or
to capture / retain its market share. The Subject had a favourable creditors'
ratio where the Subject could be taking advantage of the cash discounts and
also wanting to maintain goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
1.41 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.41 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 |
[ |
23.02 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.76 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 : |
||||||
|
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 as a lowly
geared company, will be more secured compared to those highly geared
companies. It has the ability to meet all its long term obligations. |
||||||
|
Overall financial condition of the Subject
: STRONG |
||||||
|
|
||||||
SINGAPORE ECONOMIC
/ INDUSTRY OUTLOOK
|
|
Major Economic Indicators : |
2013 |
2014 |
2015 |
2016 |
2017* |
|
|
|||||
|
Population (Million) |
5.40 |
5.47 |
5.54 |
5.61 |
5.61 |
|
Gross Domestic Products ( % ) |
5.1 |
3.9 |
2.2 |
2.4 |
3.6 |
|
Consumer Price Index |
2.4 |
1.0 |
(0.5) |
(0.5) |
0.6 |
|
Total Imports (Million) |
466,762.0 |
463,779.1 |
407,767.9 |
398,372.0 |
403,300.0 |
|
Total Exports (Million) |
513,391.0 |
518,922.7 |
476,285.4 |
468,552.0 |
466,900.0 |
|
|
|||||
|
Unemployment Rate (%) |
1.9 |
1.9 |
1.9 |
2.1 |
- |
|
Tourist Arrival (Million) |
15.46 |
15.01 |
15.23 |
16.28 |
- |
|
Hotel Occupancy Rate (%) |
86.3 |
85.5 |
84.0 |
83.1 |
84.7 |
|
Cellular Phone Subscriber (Million) |
1.97 |
1.98 |
1.99 |
- |
- |
|
|
|||||
|
Registration of New Companies (No.) |
37,288 |
41,589 |
34,243 |
35,227 |
37,395 |
|
Registration of New Companies (%) |
9.8 |
11.5 |
(17.7) |
2.9 |
6.2 |
|
Liquidation of Companies (No.) |
17,369 |
18,767 |
21,384 |
23,218 |
22,379 |
|
Liquidation of Companies (%) |
(5.3) |
8.0 |
13.9 |
8.6 |
(3.6) |
|
|
|||||
|
Registration of New Businesses (No.) |
22,893 |
35,773 |
28,480 |
27,120 |
22,148 |
|
Registration of New Businesses (%) |
1.70 |
56.30 |
(20.39) |
(4.78) |
(18.33) |
|
Liquidation of Businesses (No.) |
22,598 |
22,098 |
26,116 |
35,866 |
24,344 |
|
Liquidation of Businesses (%) |
0.5 |
(2.2) |
18.2 |
37.3 |
(32.1) |
|
|
|||||
|
Bankruptcy Orders (No.) |
1,992 |
1,757 |
1,776 |
1,797 |
1,638 |
|
Bankruptcy Orders (%) |
14.0 |
(11.8) |
1.0 |
1.2 |
(8.9) |
|
Bankruptcy Discharges (No.) |
2,584 |
3,546 |
3,499 |
4,359 |
2,030 |
|
Bankruptcy Discharges (%) |
37.4 |
37.2 |
(1.3) |
24.6 |
(53.4) |
|
|
|||||
|
INDUSTRIES ( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production of Principal Crops |
1.78 |
4.29 |
3.04 |
- |
- |
|
Fish Supply & Wholesale |
(3.8) |
(8.6) |
(8.5) |
(9.9) |
- |
|
|
|||||
|
Manufacturing # |
|||||
|
Food, Beverages & Tobacco |
97.9 |
99.4 |
100.0 |
103.7 |
110.3 |
|
Textiles |
119.5 |
102.7 |
100.0 |
92.4 |
84.4 |
|
Wearing Apparel |
334.1 |
212.6 |
100.0 |
83.4 |
88.2 |
|
Leather Products & Footwear |
122.0 |
106.5 |
100.0 |
88.8 |
79.0 |
|
Wood & Wood Products |
103.0 |
107.2 |
100.0 |
95.0 |
92.9 |
|
Paper & Paper Products |
104.4 |
104.5 |
100.0 |
97.3 |
96.1 |
|
Printing & Media |
113.8 |
105.968 |
100.0 |
85.1 |
73.1 |
|
Crude Oil Refineries |
100.7 |
92.2 |
100.0 |
104.2 |
113.5 |
|
Chemical & Chemical Products |
88.4 |
96.7 |
100.0 |
98.9 |
105.3 |
|
Pharmaceutical Products |
101.421 |
109.4 |
100.0 |
113.8 |
96.0 |
|
Rubber & Plastic Products |
109.497 |
109.2 |
100.0 |
91.4 |
93.7 |
|
Non-metallic Mineral |
107.4 |
90.759 |
100.0 |
89.8 |
72.9 |
|
Basic Metals |
77.2 |
99.3 |
100.0 |
106.2 |
108.3 |
|
Fabricated Metal Products |
107.5 |
107.757 |
100.0 |
93.8 |
91.3 |
|
Machinery & Equipment |
109.1 |
118.2 |
100.0 |
80.8 |
86.1 |
|
Electrical Machinery |
87.4 |
97.871 |
100.0 |
101.5 |
111.7 |
|
Electronic Components |
105.0 |
105.6 |
100.0 |
114.1 |
151.4 |
|
Transport Equipment |
111.1 |
106.68 |
100.0 |
101.0 |
99.5 |
|
|
|||||
|
Construction |
25.40 |
22.00 |
- |
- |
- |
|
Real Estate |
88.5 |
145.1 |
- |
- |
- |
|
|
|||||
|
Services |
|||||
|
Electricity, Gas & Water |
6.70 |
6.50 |
- |
- |
- |
|
Transport, Storage & Communication |
9.80 |
14.20 |
- |
- |
- |
|
Finance & Insurance |
3.30 |
6.00 |
- |
7.40 |
- |
|
Government Services |
6.50 |
6.30 |
- |
- |
- |
|
Education Services |
3.10 |
5.98 |
- |
2.40 |
- |
|
|
|||||
|
* Estimate / Preliminary |
|||||
|
# Based on Index of Industrial Production
(2015 = 100) |
INDUSTRY
ANALYSIS
|
|
INDUSTRY : |
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. |
|
MITSUBISHI CORPORATION |
|
Financial Year End |
2017-03-31 |
2016-03-31 |
2015-03-31 |
2014-03-31 |
2013-03-31 |
|
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 |
574,644,344 |
551,973,261 |
648,158,433 |
648,044,958 |
646,847,535 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
574,644,344 |
551,973,261 |
648,158,433 |
648,044,958 |
646,847,535 |
|
Costs of Goods Sold |
(537,561,832) |
(519,268,943) |
(616,617,677) |
(631,045,054) |
(623,479,704) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
37,082,512 |
32,704,318 |
31,540,756 |
16,999,904 |
23,367,831 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
15,384,009 |
8,638,958 |
6,140,063 |
(2,579,826) |
(501,672) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
15,384,009 |
8,638,958 |
6,140,063 |
(2,579,826) |
(501,672) |
|
Taxation |
(2,700,000) |
(1,500,000) |
(60,604) |
- |
(76,675) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
12,684,009 |
7,138,958 |
6,079,459 |
(2,579,826) |
(578,347) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
64,521,564 |
57,382,606 |
51,303,147 |
53,882,973 |
54,461,320 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
64,521,564 |
57,382,606 |
51,303,147 |
53,882,973 |
54,461,320 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
77,205,573 |
64,521,564 |
57,382,606 |
51,303,147 |
53,882,973 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
77,205,573 |
64,521,564 |
57,382,606 |
51,303,147 |
53,882,973 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Bank overdraft |
231,828 |
114,129 |
88,464 |
134,331 |
198,817 |
|
Term loan / Borrowing |
55,577 |
103,489 |
147,897 |
203,911 |
908,790 |
|
Others |
411,217 |
539,390 |
396,044 |
484,713 |
40,616 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
698,622 |
757,008 |
632,405 |
822,955 |
1,148,223 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
492,502 |
586,246 |
454,071 |
345,701 |
361,391 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
492,502 |
586,246 |
454,071 |
345,701 |
361,391 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE SHEET
|
|
MITSUBISHI CORPORATION |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
3,556,551 |
3,978,791 |
4,045,682 |
2,996,462 |
2,673,449 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Others |
788,027 |
788,027 |
652,487 |
652,487 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
788,027 |
788,027 |
652,487 |
652,487 |
- |
|
INTANGIBLE ASSETS |
|||||
|
Others |
- |
- |
- |
- |
652,487 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
- |
- |
- |
- |
652,487 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
4,344,578 |
4,766,818 |
4,698,169 |
3,648,949 |
3,325,936 |
|
CURRENT ASSETS |
|||||
|
Stocks |
315,830 |
522,542 |
2,618,954 |
2,082,679 |
2,220,420 |
|
Contract work-in-progress |
- |
360,409 |
18,154 |
219,320 |
11,678 |
|
Trade debtors |
103,407,248 |
52,636,520 |
77,004,598 |
84,960,590 |
92,316,510 |
|
Other debtors, deposits & prepayments |
124,620,722 |
129,936,097 |
127,326,840 |
181,663,313 |
193,964,543 |
|
Amount due from related companies |
2,991,047 |
1,447,857 |
11,438,311 |
9,073,744 |
- |
|
Cash & bank balances |
20,378,675 |
13,385,878 |
32,726,617 |
19,585,546 |
20,008,197 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
251,713,522 |
198,289,303 |
251,133,474 |
297,585,192 |
308,521,348 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
256,058,100 |
203,056,121 |
255,831,643 |
301,234,141 |
311,847,284 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
80,321,371 |
43,754,280 |
80,323,546 |
66,232,804 |
64,488,252 |
|
Other creditors & accruals |
13,598,828 |
11,370,919 |
16,782,364 |
30,066,562 |
44,807,716 |
|
Bank overdraft |
52,424,008 |
25,370,814 |
20,709,910 |
15,832,768 |
23,852,558 |
|
Short term borrowings/Term loans |
- |
- |
- |
- |
39,188,533 |
|
Other borrowings |
6,548,353 |
7,436,028 |
21,872,589 |
35,602,589 |
84,985,053 |
|
Amounts owing to related companies |
15,647,200 |
49,003,311 |
57,970,802 |
94,479,441 |
- |
|
Provision for taxation |
2,685,600 |
1,499,047 |
574,066 |
506,000 |
541,520 |
|
Other liabilities |
7,552,052 |
25,043 |
140,645 |
7,135,715 |
25,564 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
178,777,412 |
138,459,442 |
198,373,922 |
249,855,879 |
257,889,196 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
72,936,110 |
59,829,861 |
52,759,552 |
47,729,313 |
50,632,152 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
|||||
|
Deferred taxation |
75,115 |
75,115 |
75,115 |
75,115 |
75,115 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
75,115 |
75,115 |
75,115 |
75,115 |
75,115 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
77,205,573 |
64,596,679 |
57,457,721 |
51,378,262 |
53,958,088 |
|
============= |
============= |
============= |
============= |
============= |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RESERVES |
|||||
|
Retained profit/(loss) carried forward |
77,205,573 |
64,521,564 |
57,382,606 |
51,303,147 |
53,882,973 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
77,205,573 |
64,521,564 |
57,382,606 |
51,303,147 |
53,882,973 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
77,205,573 |
64,521,564 |
57,382,606 |
51,303,147 |
53,882,973 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO
|
|
MITSUBISHI CORPORATION |
|
TYPES OF FUNDS |
|||||
|
Cash |
20,378,675 |
13,385,878 |
32,726,617 |
19,585,546 |
20,008,197 |
|
Net Liquid Funds |
(32,045,333) |
(11,984,936) |
12,016,707 |
3,752,778 |
(3,844,361) |
|
Net Liquid Assets |
72,620,280 |
59,307,319 |
50,140,598 |
45,646,634 |
48,411,732 |
|
Net Current Assets/(Liabilities) |
72,936,110 |
59,829,861 |
52,759,552 |
47,729,313 |
50,632,152 |
|
Net Tangible Assets |
77,205,573 |
64,596,679 |
57,457,721 |
51,378,262 |
53,305,601 |
|
Net Monetary Assets |
72,545,165 |
59,232,204 |
50,065,483 |
45,571,519 |
48,336,617 |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
0 |
9,395,966 |
6,772,468 |
(1,756,871) |
646,551 |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
16,575,133 |
9,982,212 |
7,226,539 |
(1,411,170) |
1,007,942 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
58,972,361 |
32,806,842 |
42,582,499 |
51,435,357 |
148,026,144 |
|
Total Liabilities |
178,852,527 |
138,534,557 |
198,449,037 |
249,930,994 |
257,964,311 |
|
Total Assets |
256,058,100 |
203,056,121 |
255,831,643 |
301,234,141 |
311,847,284 |
|
Net Assets |
77,205,573 |
64,596,679 |
57,457,721 |
51,378,262 |
53,958,088 |
|
Net Assets Backing |
77,205,573 |
64,521,564 |
57,382,606 |
51,303,147 |
53,882,973 |
|
Shareholders' Funds |
77,205,573 |
64,521,564 |
57,382,606 |
51,303,147 |
53,882,973 |
|
Total Share Capital |
0 |
0 |
0 |
0 |
0 |
|
Total Reserves |
77,205,573 |
64,521,564 |
57,382,606 |
51,303,147 |
53,882,973 |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
4.11 |
(14.84) |
0.02 |
0.19 |
(34.32) |
|
Proft/(Loss) Before Tax |
78.08 |
40.70 |
338.00 |
(414.25) |
(104.23) |
|
Proft/(Loss) After Tax |
77.67 |
17.43 |
335.65 |
(346.07) |
(105.85) |
|
Total Assets |
26.10 |
(20.63) |
(15.07) |
(3.40) |
(11.41) |
|
Total Liabilities |
29.10 |
(30.19) |
(20.60) |
(3.11) |
(13.30) |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.11 |
0.10 |
0.16 |
0.08 |
0.08 |
|
Liquid Ratio |
1.41 |
1.43 |
1.25 |
1.18 |
1.19 |
|
Current Ratio |
1.41 |
1.43 |
1.27 |
1.19 |
1.20 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
0 |
1 |
1 |
1 |
1 |
|
Debtors Ratio |
66 |
35 |
43 |
48 |
52 |
|
Creditors Ratio |
55 |
31 |
48 |
38 |
38 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.76 |
0.51 |
0.74 |
1.00 |
2.75 |
|
Liabilities Ratio |
2.32 |
2.15 |
3.46 |
4.87 |
4.79 |
|
Times Interest Earned Ratio |
23.02 |
12.41 |
10.71 |
(2.13) |
0.56 |
|
Assets Backing Ratio |
- |
- |
- |
- |
- |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
2.68 |
1.57 |
0.95 |
(0.40) |
(0.08) |
|
Net Profit Margin |
2.21 |
1.29 |
0.94 |
(0.40) |
(0.09) |
|
Return On Net Assets |
20.83 |
14.55 |
11.79 |
(3.42) |
1.20 |
|
Return On Capital Employed |
12.40 |
10.44 |
8.66 |
(2.61) |
0.82 |
|
Return On Shareholders' Funds/Equity |
16.43 |
11.06 |
10.59 |
(5.03) |
(1.07) |
|
Dividend Pay Out Ratio (Times) |
0 |
0 |
0 |
0 |
0 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.61 |
|
|
1 |
INR 94.21 |
|
Euro |
1 |
INR 81.32 |
|
SGD |
1 |
INR 50.10 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
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.