|
|
|
MIRA INFORM REPORT
|
Report No. : |
505138 |
|
Report Date : |
25.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
STATION
SATCOM PTE. LTD. |
|
|
|
|
Registered Office : |
30, Cecil Street, 19-08, Prudential Tower, 049712 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation : |
18.06.2013 |
|
|
|
|
Com. Reg. No.: |
201316378K |
|
|
|
|
Legal Form : |
Private
Limited (Limited By Share) |
|
|
|
|
Line of Business : |
Trading of Telecommunication Equipment and 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+ |
Low Risk |
Business dealings permissible with low
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 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. |
: |
201316378K |
|
COMPANY
NAME |
: |
STATION
SATCOM PTE. LTD. |
|
FORMER
NAME |
: |
N/A |
|
INCORPORATION
DATE |
: |
18/06/2013 |
|
COMPANY
STATUS |
: |
EXIST |
|
LEGAL
FORM |
: |
PRIVATE
LIMITED (LIMITED BY SHARE) |
|
LISTED
STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
30,
CECIL STREET, 19-08, PRUDENTIAL TOWER, 049712, SINGAPORE. |
|
BUSINESS
ADDRESS |
: |
30,
CECIL STREET, 19-08, PRUDENTIAL TOWER, 049712, SINGAPORE. |
|
TEL.NO. |
: |
65-63201888 |
|
FAX.NO. |
: |
65-64382436 |
|
WEB
SITE |
: |
WWW.STATIONSATCOM.COM |
|
CONTACT
PERSON |
: |
ANSHUL
KHANNA ( DIRECTOR ) |
|
PRINCIPAL
ACTIVITY |
: |
TRADING
OF TELECOMMUNICATION EQUIPMENT AND SERVICES |
|
ISSUED
AND PAID UP CAPITAL |
: |
10,000.00
ORDINARY SHARE, OF A VALUE OF USD 10,000.00 |
|
SALES |
: |
USD
15,908,879 [2017] |
|
NET
WORTH |
: |
USD
5,681,656 [2017] |
|
STAFF
STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL
CONDITION |
: |
STRONG |
|
PAYMENT |
: |
AVERAGE |
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL
RISK |
: |
LOW |
|
CURRENCY
EXPOSURE |
: |
MODERATE |
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY
OUTLOOK |
: |
MARGINAL
GROWTH |
HISTORY/ BACKGROUND
The Subject is a private limited company and
is allowed to have a minimum of one and a maximum of forty-nine shareholders.
As a private limited company, the Subject must have at least two directors. A
private limited company is a separate legal entity from its shareholders. As a
separate legal entity, the Subject is capable of owning assets, entering into
contracts, sue or be sued by other companies. The liabilities of the
shareholders are to the extent of the equity they have taken up and the
creditors cannot claim on shareholders' personal assets even if the Subject is
insolvent. The Subject is governed by the Companies Act and the company must
file its annual returns, together with its financial statements with the Registrar
of Companies.
The Subject is principally engaged in the (as
a / as an) trading of telecommunication equipment and services.
The immediate holding company of the Subject
is STATION SATCOM PRIVATE LIMITED, a company incorporated in INDIA.
Share
Capital History
|
Date |
Issue
& Paid Up Capital |
|
20/04/2018 |
USD
10,000.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
ANSHUL
KHANNA + |
801,
8TH FLOOR, MADHAVA, PLOT C-4, E BLOCK BANDRA KURLA COMPLEX, BANDRA EAST,
MUMBAI, 400051, INDIA. |
Z2707651 |
1,000.00 |
10.00 |
|
STATION
SATCOM PRIVATE LIMITED |
801,
8TH FLOOR, MADHAVA, PLOT C-4, E BLOCK BANDRA KURLA COMPLEX, BANDRA EAST,
MUMBAI 400051 ,INDIA |
T13UF2444 |
9,000.00 |
90.00 |
|
--------------- |
------ |
|||
|
10,000.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
DIRECTORS
DIRECTOR
1
|
Name
Of Subject |
: |
SEE
MEE LEE |
|
Address |
: |
17,
TANJONG KATONG ROAD, 07-27, KATONG REGENCY, 437159, SINGAPORE. |
|
IC
/ PP No |
: |
S7672977H |
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
18/06/2013 |
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 |
201540363G |
GOURMET
FOOD SOLUTIONS PTE. LTD. |
Secretary |
12/11/2015 |
0.00 |
- |
- |
2017 |
- |
20/03/2018 |
|
2 |
201316378K |
STATION
SATCOM PTE. LTD. |
Director
Secretary |
18/06/2013
18/06/2013 |
0.00 |
- |
USD2,899,180.00 |
2017 |
- |
20/04/2018 |
DIRECTOR
2
|
Name
Of Subject |
: |
ANSHUL
KHANNA |
|
Address |
: |
801,
8TH FLOOR, MADHAVA, PLOT C-4, E BLOCK BANDRA KURLA COMPLEX, BANDRA EAST,
MUMBAI, 400051, INDIA. |
|
IC
/ PP No |
: |
Z2707651 |
|
Nationality |
: |
INDIAN |
|
Date
of Appointment |
: |
18/06/2013 |
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 |
201316378K |
STATION
SATCOM PTE. LTD. |
Director |
18/06/2013 |
1,000.00 |
10.00 |
USD2,899,180.00 |
2017 |
- |
20/04/2018 |
MANAGEMENT
|
1)
|
Name
of Subject |
: |
ANSHUL
KHANNA |
|
Position |
: |
DIRECTOR |
AUDITOR
|
Auditor |
: |
CPA
LINK |
|
Auditor'
Address |
: |
N/A |
COMPANY SECRETARIES
|
1)
|
Company
Secretary |
: |
SEE
MEE LEE |
|
IC
/ PP No |
: |
S7672977H |
|
|
Address |
: |
17,
TANJONG KATONG ROAD, 07-27, KATONG REGENCY, 437159, SINGAPORE. |
|
|
2)
|
Company
Secretary |
: |
CHIEW
MENG FANG |
|
IC
/ PP No |
: |
S7020826A |
|
|
Address |
: |
893A,
TAMPINES AVENUE 8, 07-56, 521893, SINGAPORE. |
|
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 |
: |
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 |
|||
|
Credit
Term |
: |
AS
AGREED |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
Goods
Traded |
: |
TELECOMMUNICATION
EQUIPMENT |
|
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) trading of
telecommunication equipment and services.
The principal activities of the Subject are those of import and export trader,
e-commerce and importer and exporter of telecommunication equipment and services.
The Subject sells the products based on customer's demands and requirement.
CURRENT INVESTIGATION
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-63201888 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
261
WATERIOO STREET #03-34 WATERLOO CENTER 180261 SINGAPORE |
|
Current
Address |
: |
30,
CECIL STREET, 19-08, PRUDENTIAL TOWER, 049712, SINGAPORE. |
|
Match |
: |
NO |
Other
Investigations
We have contacted one of the staff from the Subject's registered office and she
only provided limited information.
She also refused to verify the address provided.
The staff from the Subject's registered office refused to disclose Subject's
number of employees and banker.
FINANCIAL ANALYSIS
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
59.10% |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
30.75% |
] |
|
|
Return
on Shareholder Funds |
: |
Favourable |
[ |
51.03% |
] |
|
|
Return
on Net Assets |
: |
Favourable |
[ |
60.96% |
] |
|
|
The
increase in turnover could be due to the Subject adopting an aggressive
marketing strategy.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 |
||||||
|
Stock
Ratio |
: |
Favourable |
[ |
2
Days |
] |
|
|
Debtor
Ratio |
: |
Acceptable |
[ |
58
Days |
] |
|
|
Creditors
Ratio |
: |
Unfavourable |
[ |
99
Days |
] |
|
|
The
Subject's stocks were moving fast thus reducing its holding cost. This had
reduced funds being tied up in stocks. The Subject's management was quite
efficient in handling its debtors. The Subject's debtors days were at an
acceptable range, thus the risk of its debts turning bad was minimised. The
unfavourable creditors' ratio could be due to the Subject taking advantage of
the credit granted by its suppliers. However this may affect the goodwill
between the Subject and its suppliers and the Subject may inadvertently have
to pay more for its future supplies. |
||||||
|
Liquidity |
||||||
|
Liquid
Ratio |
: |
Favourable |
[ |
2.15
Times |
] |
|
|
Current
Ratio |
: |
Favourable |
[ |
2.17
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
: |
TRADING |
|
According
to the Ministry of Trade and Industry, the wholesale & retail trade
sector expanded to 3.0% in the fourth quarter of 2017, moderating from the
3.3% growth in the previous quarter. The wholesale trade segment was boosted
by an improvement in foreign wholesale sales volume, which more than offset
the weakness in domestic wholesale sales volume. For the whole of 2017, the
sector expanded by 2.3%, faster than the 1.0% growth in 2016. The improvement
in growth can be attributed to the wholesale segment. |
|
|
The
domestic wholesale sales volume fell by 1.1% in the fourth quarter 2017,
reversing the 2.0% growth in the preceding quarter. The poorer outturn was
led by declines in the sales volume of household equipment & furniture
(-27%) and general wholesale merchandise (-19%), which outweighed the
increase in the sales volume of telecommunications & computers (20%). For
the whole of 2017, the domestic wholesale trade index expanded by 1.0%, a
turnaround from the 2.7% decline in 2016. |
|
|
On
the other hand, foreign wholesale sales volume rose to 6.2% in the fourth
quarter 2017, a step-up from the 5.1% growth in the preceding quarter. Growth
was driven by expansions in the sales of petroleum & petroleum-related
products (11%t), telecommunications & computers (19%) and electronic
components (16%). However, growth was partly offset by a 20% decline in the
sales volume of metals, timber & construction materials. For the full
year 2017, the foreign wholesale trade index rose by 3.6%, faster than the
increase of 1.5% in the previous year. |
|
|
Besides,
retail sales volume rose by 2.1% in the fourth quarter 2017, improving from
the 0.9% growth recorded in the third quarter. Growth was supported by
improvements in both motor vehicle and non-motor vehicle sales volumes. While
motor vehicle sales benefitted from an on-year increase in COE supply, growth
in non-motor vehicle sales came on the back of an improvement in consumer
sentiments. Notably, the sales volume of discretionary goods such as
recreational goods, computer & telecommunication equipment and wearing
apparel & footwear grew by 4.6%, 4.3 % and 3.1% respectively. |
|
|
For
the full year 2017, retail sales volume expanded by 1.3%, similar to the 1.5%
growth recorded in 2016. Growth was driven by both motor vehicle sales and
non-motor vehicle sales, which the former rising by 1.5% and the latter
increasing by 1.3%. The rise in non-motor vehicle sales was underpinned by
higher sales of discretionary goods. For instance, the sales volume of
recreational goods (3.9%), watches & jewellery (2.4%), computer &
telecommunications equipment (1.7%) and wearing apparel & footwear (1.5%)
improved in 2017. |
|
|
OVERALL
INDUSTRY OUTLOOK : MARGINAL GROWTH |
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
Incorporated
in 2013, the Subject is a Private Limited company, focusing on trading of
telecommunication equipment and services. The Subject has been in business
for less than 5 years and it has slowly been building up contact with its
clients while competing in the industry. However, it has yet to enjoy a
stable market shares as it need to compete many well established players in
the same field. Presently, the issued and paid up capital of the Subject
stands at USD 10,000. With a strong backing from its holding company, the
Subject enjoys timely financial assistance should the needs arise. |
PROFIT AND LOSS ACCOUNT
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
STATION
SATCOM PTE. LTD. |
|
Financial
Year End |
2017-03-31 |
2016-03-31 |
|
Months |
12 |
12 |
|
Consolidated
Account |
Company |
Company |
|
Audited
Account |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial
Type |
FULL |
FULL |
|
Currency |
USD |
USD |
|
TURNOVER |
15,908,879 |
9,999,369 |
|
Other
Income |
148,527 |
711,199 |
|
---------------- |
---------------- |
|
|
Total
Turnover |
16,057,406 |
10,710,568 |
|
Costs
of Goods Sold |
(11,742,466) |
(7,707,690) |
|
---------------- |
---------------- |
|
|
Gross
Profit |
4,314,940 |
3,002,878 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
3,463,729 |
2,649,081 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
3,463,729 |
2,649,081 |
|
Taxation |
(564,549) |
(412,000) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
2,899,180 |
2,237,081 |
|
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As
previously reported |
3,022,476 |
1,035,395 |
|
---------------- |
---------------- |
|
|
As
restated |
3,022,476 |
1,035,395 |
|
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
5,921,656 |
3,272,476 |
|
DIVIDENDS
- Ordinary (paid & proposed) |
(250,000) |
(250,000) |
|
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
5,671,656 |
3,022,476 |
|
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
16,501 |
8,673 |
|
---------------- |
---------------- |
|
|
Total
Amortization And Depreciation |
16,501 |
8,673 |
|
============= |
============= |
BALANCE SHEET
|
STATION
SATCOM PTE. LTD. |
|
ASSETS
EMPLOYED: |
||
|
FIXED
ASSETS |
53,924 |
35,176 |
|
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
53,924 |
35,176 |
|
CURRENT
ASSETS |
||
|
Stocks |
101,419 |
55,219 |
|
Trade
debtors |
2,511,607 |
1,663,234 |
|
Other
debtors, deposits & prepayments |
1,538,662 |
916,857 |
|
Short
term deposits |
2,016,556 |
- |
|
Cash
& bank balances |
4,145,731 |
3,268,972 |
|
Others |
148,971 |
109,886 |
|
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
10,462,946 |
6,014,168 |
|
---------------- |
---------------- |
|
|
TOTAL
ASSET |
10,516,870 |
6,049,344 |
|
============= |
============= |
|
|
CURRENT
LIABILITIES |
||
|
Trade
creditors |
3,176,769 |
2,109,953 |
|
Other
creditors & accruals |
530,825 |
142,069 |
|
Deposits
from customers |
21,797 |
- |
|
Amounts
owing to holding company |
292,319 |
191,988 |
|
Amounts
owing to director |
51,340 |
51,400 |
|
Provision
for taxation |
643,298 |
435,588 |
|
Other
liabilities |
108,866 |
79,070 |
|
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
4,825,214 |
3,010,068 |
|
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
5,637,732 |
3,004,100 |
|
---------------- |
---------------- |
|
|
LONG
TERM LIABILITIES |
||
|
Deferred
taxation |
10,000 |
6,800 |
|
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
10,000 |
6,800 |
|
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
5,681,656 |
3,032,476 |
|
============= |
============= |
|
|
FINANCED
BY: |
||
|
SHARE
CAPITAL |
||
|
Ordinary
share capital |
10,000 |
10,000 |
|
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
10,000 |
10,000 |
|
RESERVES |
||
|
Retained
profit/(loss) carried forward |
5,671,656 |
3,022,476 |
|
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
5,671,656 |
3,022,476 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
5,681,656 |
3,032,476 |
|
============= |
============= |
|
FINANCIAL RATIO
|
STATION
SATCOM PTE. LTD. |
|
TYPES
OF FUNDS |
||
|
Cash |
6,162,287 |
3,268,972 |
|
Net
Liquid Funds |
6,162,287 |
3,268,972 |
|
Net
Liquid Assets |
5,536,313 |
2,948,881 |
|
Net
Current Assets/(Liabilities) |
5,637,732 |
3,004,100 |
|
Net
Tangible Assets |
5,681,656 |
3,032,476 |
|
Net
Monetary Assets |
5,526,313 |
2,942,081 |
|
PROFIT
& LOSS ITEMS |
||
|
Earnings
Before Interest & Tax (EBIT) |
3,463,729 |
2,649,081 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
3,480,230 |
2,657,754 |
|
BALANCE
SHEET ITEMS |
||
|
Total
Borrowings |
0 |
0 |
|
Total
Liabilities |
4,835,214 |
3,016,868 |
|
Total
Assets |
10,516,870 |
6,049,344 |
|
Net
Assets |
5,681,656 |
3,032,476 |
|
Net
Assets Backing |
5,681,656 |
3,032,476 |
|
Shareholders'
Funds |
5,681,656 |
3,032,476 |
|
Total
Share Capital |
10,000 |
10,000 |
|
Total
Reserves |
5,671,656 |
3,022,476 |
|
GROWTH
RATIOS (Year on Year) (%) |
||
|
Revenue |
59.10 |
- |
|
Proft/(Loss)
Before Tax |
30.75 |
- |
|
Proft/(Loss)
After Tax |
29.60 |
- |
|
Total
Assets |
73.85 |
- |
|
Total
Liabilities |
60.27 |
- |
|
LIQUIDITY
(Times) |
||
|
Cash
Ratio |
1.28 |
1.09 |
|
Liquid
Ratio |
2.15 |
1.98 |
|
Current
Ratio |
2.17 |
2.00 |
|
WORKING
CAPITAL CONTROL (Days) |
||
|
Stock
Ratio |
2 |
2 |
|
Debtors
Ratio |
58 |
61 |
|
Creditors
Ratio |
99 |
100 |
|
SOLVENCY
RATIOS (Times) |
||
|
Gearing
Ratio |
0 |
0 |
|
Liabilities
Ratio |
0.85 |
0.99 |
|
Times
Interest Earned Ratio |
0 |
0 |
|
Assets
Backing Ratio |
568.17 |
303.25 |
|
PERFORMANCE
RATIO (%) |
||
|
Operating
Profit Margin |
21.77 |
26.49 |
|
Net
Profit Margin |
18.22 |
22.37 |
|
Return
On Net Assets |
60.96 |
87.36 |
|
Return
On Capital Employed |
60.86 |
87.16 |
|
Return
On Shareholders' Funds/Equity |
51.03 |
73.77 |
|
Dividend
Pay Out Ratio (Times) |
0.09 |
0.11 |
|
NOTES
TO ACCOUNTS |
||
|
Contingent
Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 66.36 |
|
|
1 |
INR 92.51 |
|
Euro |
1 |
INR 81.05 |
|
SGD |
1 |
INR 50.27 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.