|
|
|
MIRA INFORM REPORT
|
Report No. : |
504544 |
|
Report Date : |
21.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
INCREDIBLE ODYSSEY PTE. LTD. |
|
|
|
|
Registered Office : |
101A, Upper Cross Street, 08-19, People's Park Centre, 058358 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
30.09.2016 |
|
|
|
|
Date of Incorporation : |
12.10.2013 |
|
|
|
|
Com. Reg. No.: |
201327786N |
|
|
|
|
Legal Form : |
Exempt Private (Limited By Share) |
|
|
|
|
Line of Business : |
The Subject is engaged in the tour operator and provide travel
services. |
|
|
|
|
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 : |
Slow but Correct |
|
|
|
|
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 electronics, petroleum products, chemicals, medical and optical devices, pharmaceuticals, and on Singapore’s 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 from 2012-2017 was slower than during the previous decade, a result of slowing structural growth - as Singapore reached high-income levels - and soft global demand for exports. Growth recovered to 3.6% in 2017 with a strengthening global economy.
The government is attempting to restructure Singapore’s economy to reduce its dependence on foreign labor, raise productivity growth, and increase wages amid slowing labor force growth and an aging population. 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 signatory of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and a party to the Regional Comprehensive Economic Partnership (RCEP) negotiations with 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. |
: |
201327786N |
|
COMPANY NAME |
: |
INCREDIBLE ODYSSEY PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
12/10/2013 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
EXEMPT PRIVATE (LIMITED BY SHARE) |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
101A, UPPER CROSS STREET, 08-19, PEOPLE'S PARK CENTRE, 058358,
SINGAPORE. |
|
BUSINESS ADDRESS |
: |
101A, UPPER CROSS STREET, 08-19, PEOPLE’S PARK CENTRE, 058358,
SINGAPORE. |
|
TEL.NO. |
: |
65-91808379/66351828 |
|
FAX.NO. |
: |
N/A |
|
WEB SITE |
: |
WWW.INCREDIBLEODYSSEY.COM |
|
CONTACT PERSON |
: |
IRVINDER SINGH ( MANAGING DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
TOUR OPERATOR AND PROVIDE TRAVEL SERVICES |
|
ISSUED AND PAID UP CAPITAL |
: |
100,000.00 ORDINARY SHARE, OF A VALUE OF SGD 100,000.00 |
|
SALES |
: |
SGD 769,026 [2016] |
|
NET WORTH |
: |
SGD 148,261 [2016] |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STRONG |
|
PAYMENT |
: |
SLOW BUT CORRECT |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
HISTORY
/ BACKGROUND
|
The Subject is an exempt private
company whose shares are not held by any corporate body and has no more than 20
shareholders who are all natural persons. An exempt company is a type of
private limited company. A private limited company is a separate legal entity
from its shareholders. As a separate legal entity, the Subject is capable of
owning assets, entering into contracts, suing or be sued by other companies.
An exempt private company with an
annual turnover of ≤ SGD10 million, or total assets ≤ SGD10 million
or number of employees ≤ 50 (meet at least 2 criteria for immediate past
two financial years) are exempted from statutory auditing requirements. The
Subject is not required to have their accounts audited. However, the Subject
will prepare unaudited accounts for purposes of AGMs and filing with Registry
Office if it is unable to meet all its obligations as and when they fall due.
An exempt private company with an
annual turnover of more than SGD10 million, or total assets more than SGD10
million or number of employees more than 50 (meet at least 2 criteria for
immediate past two financial years) are required to file the audited financial.
The Subject is principally engaged in the (as a / as an) tour
operator and provide travel services.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
20/04/2018 |
SGD 100,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
IRVINDER SINGH + |
156, PRINCE CHARLES CRESCENT, 15-21, TANGLIN VIEW, 159015,
SINGAPORE. |
S2718060D |
60,000.00 |
60.00 |
|
SONG YEE CHOON + |
156, PRINCE CHARLES CRESCENT, 15-21, TANGLIN VIEW, 159015,
SINGAPORE. |
S1593816A |
40,000.00 |
40.00 |
|
--------------- |
------ |
|||
|
100,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
SONG YEE CHOON |
|
Address |
: |
156, PRINCE CHARLES CRESCENT, 15-21, TANGLIN VIEW, 159015,
SINGAPORE. |
|
IC / PP No |
: |
S1593816A |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
12/10/2013 |
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 |
201327786N |
INCREDIBLE ODYSSEY PTE. LTD. |
Director |
12/10/2013 |
40,000.00 |
40.00 |
SGD88,462.00 |
2016 |
- |
20/04/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
IRVINDER SINGH |
|
Address |
: |
156, PRINCE CHARLES CRESCENT, 15-21, TANGLIN VIEW, 159015,
SINGAPORE. |
|
IC / PP No |
: |
S2718060D |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
12/10/2013 |
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 |
201327786N |
INCREDIBLE ODYSSEY PTE. LTD. |
Director |
12/10/2013 |
60,000.00 |
60.00 |
SGD88,462.00 |
2016 |
- |
20/04/2018 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
IRVINDER SINGH |
|
Position |
: |
MANAGING DIRECTOR |
|
|
2) |
Name of Subject |
: |
ALEX |
|
Position |
: |
STAFF |
|
AUDITOR
|
No Auditor found in our databank
COMPANY
SECRETARIES
|
No company secretary was found in our databank.
BANKING
|
No Banker found in our databank.
ENCUMBRANCE
(S)
|
No encumbrance was found in our databank at the time of investigation.
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 is a service provider.
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 |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Services |
: |
TOUR OPERATOR AND PROVIDE TRAVEL SERVICES |
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) tour operator and
provide travel services.
The Subject specializing in all sort of tours, events, adventure activities and
climbing expedition.
They provide exotic itineraries for well established, as well as the unexplored
destinations in India with Odyssey Manager™ (OM) from airport to airport.
Trained to solve the contingencies that might arise during trip, their OMs
provide personal service to thier guest to ensure best holidays or excellent
adventure trip.
The Subject's team is experienced in handling solo traveler and groups,
including groups of more than 100 people which will be handled by a team of OMs
to make sure all their guests are taken care of.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated
that :
|
Telephone Number Provided By Client |
: |
+65-91808379 |
|
Current Telephone Number |
: |
65-91808379/66351828 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
101A UPPER CROSS STREET # 08-19 PEOPLES PARK CENTRE 058358
SINGAPORE |
|
Current Address |
: |
101A, UPPER CROSS STREET, 08-19, PEOPLE’S PARK CENTRE, 058358,
SINGAPORE. |
|
Match |
: |
YES |
|
|
||
Other Investigations
We have contacted one of the staff from the Subject and he only
provided limited information.
The Subject refused to disclose its fax number, number of employees and banker
information.
FINANCIAL
ANALYSIS
|
|
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2.20% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
199.30% |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
59.67% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
59.67% |
] |
|
|
The higher turnover could be attributed to the favourable market
condition.The higher profit could be attributed to the increase in turnover.
Generally the Subject was profitable. The favourable return on shareholders'
funds and return on net assets indicate that the Subject's management was
efficient in utilising the assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Debtor Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
The favourable debtors' days could be due to the good credit
control measures implemented by the Subject. The Subject had a favourable
creditors' ratio where the Subject could be taking advantage of the cash discounts
and also wanting to maintain goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
34.27 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
34.27 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 |
: |
Nil |
[ |
0.00 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The Subject's interest cover was nil as it did not pay any
interest during the year. 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 : |
||||||
|
Generally, the Subject's performance has improved with higher
turnover and profit. The Subject was in good liquidity position with its
total current liabilities well covered by its total current assets. With its
current net assets, the Subject should be able to repay its short term
obligations. The Subject did not make any interest payment during the year.
The Subject was dependent on its shareholders' funds to finance its business
needs. 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 : 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. |
|
INCREDIBLE ODYSSEY PTE. LTD. |
Note : The Subject is an Exempt Private Company and it is not required
by law to file its financials for public view. The below financials are the
last financial that submitted by the Subject to the Registrar before changed to
Exempt Private Company.
|
Financial Year End |
2016-09-30 |
2015-09-30 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
SGD |
SGD |
|
TURNOVER |
769,026 |
752,490 |
|
---------------- |
---------------- |
|
|
Total Turnover |
769,026 |
752,490 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
88,462 |
29,556 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
88,462 |
29,556 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
88,462 |
29,556 |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
59,799 |
30,243 |
|
---------------- |
---------------- |
|
|
As restated |
59,799 |
30,243 |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
148,261 |
59,799 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(100,000) |
- |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
48,261 |
59,799 |
|
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
3,901 |
3,901 |
|
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
3,901 |
3,901 |
|
============= |
============= |
|
|
|
|
|
BALANCE
SHEET
|
|
|
|
INCREDIBLE ODYSSEY PTE. LTD. |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
8,508 |
12,409 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
8,508 |
12,409 |
|
CURRENT ASSETS |
||
|
Other debtors, deposits & prepayments |
66,500 |
72,000 |
|
Amount due from director |
37,770 |
47,169 |
|
Cash & bank balances |
39,683 |
32,421 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
143,953 |
151,590 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
152,461 |
163,999 |
|
============= |
============= |
|
|
CURRENT LIABILITIES |
||
|
Other creditors & accruals |
4,200 |
4,200 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
4,200 |
4,200 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
139,753 |
147,390 |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
148,261 |
159,799 |
|
============= |
============= |
|
|
FINANCED BY: |
||
|
SHARE CAPITAL |
||
|
Ordinary share capital |
100,000 |
100,000 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
100,000 |
100,000 |
|
RESERVES |
||
|
Retained profit/(loss) carried forward |
48,261 |
59,799 |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
48,261 |
59,799 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
148,261 |
159,799 |
|
============= |
============= |
|
|
|
|
|
FINANCIAL
RATIO
|
|
|
|
INCREDIBLE ODYSSEY PTE. LTD. |
|
TYPES OF FUNDS |
||
|
Cash |
39,683 |
32,421 |
|
Net Liquid Funds |
39,683 |
32,421 |
|
Net Liquid Assets |
139,753 |
147,390 |
|
Net Current Assets/(Liabilities) |
139,753 |
147,390 |
|
Net Tangible Assets |
148,261 |
159,799 |
|
Net Monetary Assets |
139,753 |
147,390 |
|
PROFIT & LOSS ITEMS |
||
|
Earnings Before Interest & Tax (EBIT) |
0 |
0 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
92,363 |
33,457 |
|
BALANCE SHEET ITEMS |
||
|
Total Borrowings |
0 |
0 |
|
Total Liabilities |
4,200 |
4,200 |
|
Total Assets |
152,461 |
163,999 |
|
Net Assets |
148,261 |
159,799 |
|
Net Assets Backing |
148,261 |
159,799 |
|
Shareholders' Funds |
148,261 |
159,799 |
|
Total Share Capital |
100,000 |
100,000 |
|
Total Reserves |
48,261 |
59,799 |
|
GROWTH RATIOS (Year on Year) (%) |
||
|
Revenue |
2.20 |
- |
|
Proft/(Loss) Before Tax |
199.30 |
- |
|
Proft/(Loss) After Tax |
199.30 |
- |
|
Total Assets |
- |
- |
|
Total Liabilities |
- |
- |
|
LIQUIDITY (Times) |
||
|
Cash Ratio |
9.45 |
7.72 |
|
Liquid Ratio |
34.27 |
36.09 |
|
Current Ratio |
34.27 |
36.09 |
|
WORKING CAPITAL CONTROL (Days) |
||
|
Stock Ratio |
0 |
0 |
|
Debtors Ratio |
0 |
0 |
|
Creditors Ratio |
0 |
0 |
|
SOLVENCY RATIOS (Times) |
||
|
Gearing Ratio |
0 |
0 |
|
Liabilities Ratio |
0.03 |
0.03 |
|
Times Interest Earned Ratio |
0 |
0 |
|
Assets Backing Ratio |
1.48 |
1.60 |
|
PERFORMANCE RATIO (%) |
||
|
Operating Profit Margin |
11.50 |
3.93 |
|
Net Profit Margin |
11.50 |
3.93 |
|
Return On Net Assets |
59.67 |
18.50 |
|
Return On Capital Employed |
59.67 |
18.50 |
|
Return On Shareholders' Funds/Equity |
59.67 |
18.50 |
|
Dividend Pay Out Ratio (Times) |
1.13 |
0 |
|
NOTES TO ACCOUNTS |
||
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 66.02 |
|
|
1 |
INR 92.73 |
|
Euro |
1 |
INR 81.46 |
|
SGD |
1 |
INR 50.30 |
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.