|
|
|
MIRA
INFORM REPORT
|
Report No. : |
505992 |
|
Report Date : |
25.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
SUMITOMO CORPORATION ASIA & OCEANIA PTE. LTD. |
|
|
|
|
Formerly Known As : |
·
SUMITOMO
CORPORATION ASIA PTE. LTD. ·
SUMITOMO
CORPORATION (SINGAPORE) PTE. LTD. |
|
|
|
|
Registered Office : |
60, Anson Road, 05-01,
Mapletree Anson, 079914 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation : |
27.04.1991 |
|
|
|
|
Com. Reg. No.: |
199101899M |
|
|
|
|
Legal Form : |
Private Limited
(Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the investment
holding. |
|
|
|
|
No. of Employees : |
200 [2018] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
|
WITH FINANCIALS |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous
Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
SINGAPORE - ECONOMIC
OVERVIEW
Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. Unemployment is very low. The economy depends heavily on exports, particularly of consumer electronics, information technology products, medical and optical devices, pharmaceuticals, and on its vibrant transportation, business, and financial services sectors.
The economy contracted 0.6% in 2009 as a result of the global financial crisis, but has continued to grow since 2010. Growth in 2014-17 was slower than during the previous decade, at under 3% annually, largely a result of soft demand for exports amid a sluggish global economy and weak growth in Singapore’s manufacturing sector.
The government is attempting to restructure Singapore’s economy by weaning its dependence on foreign labor, addressing weak productivity growth, and increasing Singaporean wages. Singapore has attracted major investments in advanced manufacturing, pharmaceuticals, and medical technology production and will continue efforts to strengthen its position as Southeast Asia's leading financial and technology hub. Singapore is a member of the Regional Comprehensive Economic Partnership negotiations with the nine other ASEAN members plus Australia, China, India, Japan, South Korea, and New Zealand. In 2015, Singapore formed, with the other ASEAN members, the ASEAN Economic Community
|
Source : CIA |
EXECUTIVE SUMMARY
|
|
REGISTRATION
NO. |
: |
199101899M |
||||
|
COMPANY
NAME |
: |
SUMITOMO
CORPORATION ASIA & OCEANIA PTE. LTD. |
||||
|
FORMER
NAME |
: |
SUMITOMO
CORPORATION ASIA PTE. LTD. (01/10/2013) |
||||
|
INCORPORATION
DATE |
: |
27/04/1991 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
PRIVATE
LIMITED (LIMITED BY SHARE) |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
60,
ANSON ROAD, 05-01, MAPLETREE ANSON, 079914, SINGAPORE. |
||||
|
BUSINESS
ADDRESS |
: |
60,
ANSON ROAD, 4-01/04 & 05-01/04, MAPLETREE ANSON, 079914, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-65300031/65337722 |
||||
|
FAX.NO. |
: |
65-65339693 |
||||
|
WEB
SITE |
: |
WWW.SUMITOMOCORP-SCAO.COM |
||||
|
CONTACT
PERSON |
: |
NORIYUKI
TAKAUCHI ( DIRECTOR ) |
||||
|
PRINCIPAL
ACTIVITY |
: |
INVESTMENT
HOLDING |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
153,939,943.00
ORDINARY SHARE, OF A VALUE OF USD 153,939,943.00 |
||||
|
SALES |
: |
USD
241,531,000 [2017] |
||||
|
NET
WORTH |
: |
USD
359,152,000 [2017] |
||||
|
STAFF
STRENGTH |
: |
200
[2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
LIMITED |
||||
|
PAYMENT |
: |
NO
COMPLAINTS |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL
RISK |
: |
LOW |
||||
|
CURRENCY
EXPOSURE |
: |
MODERATE |
||||
|
GENERAL
REPUTATION |
: |
GOOD |
||||
|
INDUSTRY
OUTLOOK |
: |
MARGINAL
GROWTH |
||||
HISTORY / BACKGROUND
|
The Subject is a private limited company and is
allowed to have a minimum of one and a maximum of forty-nine shareholders. As a
private limited company, the Subject must have at least two directors. A
private limited company is a separate legal entity from its shareholders. As a
separate legal entity, the Subject is capable of owning assets, entering into
contracts, sue or be sued by other companies. The liabilities of the
shareholders are to the extent of the equity they have taken up and the
creditors cannot claim on shareholders' personal assets even if the Subject is
insolvent. The Subject is governed by the Companies Act and the company must
file its annual returns, together with its financial statements with the
Registrar of Companies.
The Subject is principally engaged in the (as a /
as an) investment holding.
The
immediate holding company of the Subject is SUMMIT GLOBAL MANAGEMENT II B.V., a
company incorporated in NETHERLANDS.
The
ultimate holding company of the Subject is SUMITOMO CORPORATION, a company
incorporated in JAPAN.
Share Capital History
|
Date |
Issue
& Paid Up Capital |
|
24/01/2018 |
USD
153,939,943.00 & SGD 206,939,269.00 |
The major
shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
SUMMIT
GLOBAL MANAGEMENT II B.V. |
STRAWINSKYLAAN
917, 1077XX, AMSTERDAM NETHERLANDS |
T05UF1977 |
360,879,212.00 |
100.00 |
|
--------------- |
------ |
|||
|
360,879,212.00 |
100.00 |
|||
|
============ |
===== |
+ Also
Director
The
Subject's interest in other companies (Subsidiaries/Associates) are shown as
follow :
Local
No |
Country |
Company |
Status |
(%) |
As At |
|
201009540N |
SINGAPORE |
OMS
HOLDINGS PTE. LTD. |
- |
60.00 |
24/01/2018 |
|
INDONESIA |
PT.
SUMITOMO INDONESIA |
- |
100.00 |
31/03/2017 |
|
|
BRUNEI
DARUSSALAM |
SC
TUBULAR SOLUTIONS (B) SDN. BHD. |
- |
90.00 |
31/03/2017 |
|
|
1100586V |
MALAYSIA |
SC
TUBULAR SOLUTIONS MALAYSIA SDN. BHD. |
- |
100.00 |
31/03/2017 |
|
AUSTRALIA |
SUMITOMO
AUSTRALIA PTY. LTD. |
- |
100.00 |
31/03/2017 |
|
|
199508404N |
SINGAPORE |
SUMITOMO
CORPORATION CAPITAL ASIA PTE. LTD. |
- |
100.00 |
24/01/2018 |
|
INDIA |
SUMITOMO
CORPORATION INDIA PRIVATE LIMITED |
- |
100.00 |
31/03/2017 |
|
|
PHILIPPINES |
SUMITOMO
CORPORATION OF PHILIPPINES |
- |
100.00 |
31/03/2017 |
|
|
THAILAND |
SUMITOMO
CORPORATION THAILAND, LTD |
- |
100.00 |
31/03/2017 |
|
|
VIETNAM |
SUMITOMO
CORPORATION VIETNAM LLC |
- |
100.00 |
31/03/2017 |
DIRECTORS
|
DIRECTOR 1
|
Name Of
Subject |
: |
TAKUYA
OKADA |
|
Address |
: |
60,
ANSON ROAD, 05-01, MAPLETREE ANSON, 079914, SINGAPORE. |
|
IC / PP
No |
: |
F1817276M |
|
Nationality |
: |
JAPANESE |
|
Date of
Appointment |
: |
07/05/2014 |
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 |
199403370Z |
PETRO
SUMMIT PTE. LTD. |
Director |
01/05/2014 |
0.00 |
- |
USD144,000.00 |
2017 |
- |
07/09/2017 |
|
2 |
199101899M |
SUMITOMO
CORPORATION ASIA & OCEANIA PTE. LTD. |
Director |
07/05/2014 |
0.00 |
- |
USD(23,539,000.00) |
2017 |
- |
24/01/2018 |
DIRECTOR 2
|
Name Of
Subject |
: |
MASAO
SEKIUCHI |
|
Address |
: |
60,
ANSON ROAD, 05-01, MAPLETREE ANSON, 079914, SINGAPORE. |
|
IC / PP
No |
: |
G3145030L |
|
Nationality |
: |
JAPANESE |
|
Date of
Appointment |
: |
06/05/2015 |
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 |
199101899M |
SUMITOMO
CORPORATION ASIA & OCEANIA PTE. LTD. |
Director |
06/05/2015 |
0.00 |
- |
USD(23,539,000.00) |
2017 |
- |
24/01/2018 |
DIRECTOR 3
|
Name Of
Subject |
: |
NORIYUKI
TAKAUCHI |
|
Address |
: |
60,
ANSON ROAD, 05-01, MAPLETREE ANSON, 079914, SINGAPORE. |
|
IC / PP
No |
: |
G5418515X |
|
Nationality |
: |
JAPANESE |
|
Date of
Appointment |
: |
01/04/2017 |
|
Remark |
: |
ALTERNATIVE
DIRECTOR TO DJOHAN MARZUKI |
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 |
199101899M |
SUMITOMO
CORPORATION ASIA & OCEANIA PTE. LTD. |
Director |
01/04/2017 |
0.00 |
- |
USD(23,539,000.00) |
2017 |
- |
24/01/2018 |
DIRECTOR 4
|
Name Of
Subject |
: |
DJOHAN
MARZUKI |
|
Address |
: |
PT. OTO
MULTI ARTHA, SUMMITMAS 2 LT.18, JL. JEND SUDIRMAN, KAV. 61-62, JAKARTA
SELATAN, DKI JAKARTA, 12190, INDONESIA. |
|
Other
Address(es) |
: |
THE
CAPITAL RESIDENCE TOWER 1/20-C, RT/RW:005/001, KELURAHAN SENAYAN, KECAMATAN
KEBAYORAN BARU, JAKARTA SELATAN, INDONESIA |
|
IC / PP
No |
: |
X240724 |
|
Nationality |
: |
INDONESIAN |
|
Date of
Appointment |
: |
01/07/2016 |
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 |
199101899M |
SUMITOMO
CORPORATION ASIA & OCEANIA PTE. LTD. |
Director |
01/07/2016 |
0.00 |
- |
USD(23,539,000.00) |
2017 |
- |
24/01/2018 |
|
2 |
995181D |
SUMITOMO
CORPORATION ASIA & OCEANIA PTE. LTD. |
Director |
01/07/2016 |
0.00 |
- |
MYR(5,891,211.00) |
2017 |
- |
26/12/2017 |
DIRECTOR 5
|
Name Of
Subject |
: |
KEIICHIRO
KAMEYAMA |
|
Address |
: |
60,
ANSON ROAD, 05-01, MAPLETREE ANSON, 079914, SINGAPORE. |
|
IC / PP
No |
: |
G3380680P |
|
Nationality |
: |
JAPANESE |
|
Date of
Appointment |
: |
06/06/2017 |
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 |
199101899M |
SUMITOMO
CORPORATION ASIA & OCEANIA PTE. LTD. |
Director |
06/06/2017 |
0.00 |
- |
USD(23,539,000.00) |
2017 |
- |
24/01/2018 |
MANAGEMENT
|
|
1) |
Name of
Subject |
: |
MASAO
SEKIUCHI |
|
Position |
: |
CEO |
|
|
2) |
Name of
Subject |
: |
NORIYUKI
TAKAUCHI |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
KPMG
LLP |
|
Auditor'
Address |
: |
N/A |
COMPANY SECRETARIES
|
|
1) |
Company
Secretary |
: |
LEE PAY
LEE |
|
IC / PP
No |
: |
S8284821E |
|
|
Address |
: |
316B,
ANCHORVALE LINK, 05-191, ANCHORVALE GARDENS, 542316, SINGAPORE. |
|
|
2) |
Company
Secretary |
: |
CHAN
LAI YIN |
|
IC / PP
No |
: |
S7480587F |
|
|
Address |
: |
26,
SIMEI STREET 1, 11-08, MELVILLE PARK, 529947, SINGAPORE. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
THE
SUMITOMO BANK LTD |
ENCUMBRANCE (S)
|
No encumbrance was found in our databank at the time of investigation.
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.
DEFAULTER CHECK AGAINST SUBJECT
|
* We have checked through the Subject in our defaulters' database which
comprised of debtors that have been blacklisted by our customers and debtors
that have been placed or assigned to us for collection.
No blacklisted record & debt collection case was found in our defaulters'
databank.
PAYMENT RECORD
|
|
||
|
SOURCES
OF RAW MATERIALS: |
||
|
Local |
: |
YES |
|
Overseas |
: |
YES |
|
Import
Countries |
: |
ASIA,EUROPE |
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 |
: |
WORLDWIDE |
|||
|
Credit
Term |
: |
N/A |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Services |
: |
INVESTMENT
HOLDING |
|
|
Ownership
of premises |
: |
LEASED/RENTED |
|
Total
Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2017 |
2016 |
2015 |
2014 |
||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
200 |
200 |
300 |
300 |
200 |
||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) investment holding.
The Group engages in iron, steel, plastic, chemicals,metal; tubular product;
transportation and construction system; environment and infrastructure; media,
network, and lifestyle related goods and service; and mineral resources,
energy, chemical, and electronic businesses.
It also offers steel sheet procurement, inventory management, processing, and
just-in-time supply services to automakers and electric appliance, supplies
steel products for various construction applications, such as offshore steel
platforms, bridges, buildings, industrial sheds and structures, etc.
CURRENT INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-65300031/65337722 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
60
ANSON ROAD, 04-01/04 & 05-01/04 MAPLETREE ANSON 079914 SINGAPORE |
|
Current
Address |
: |
60,
ANSON ROAD, 4-01/04 & 05-01/04, MAPLETREE ANSON, 079914, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
We have contacted one of the staff from the Subject and she provided some
information.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2013 -
2017 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
2013 -
2017 |
] |
|
|
Return
on Shareholder Funds |
: |
Unfavourable |
[ |
(6.55%) |
] |
|
|
Return
on Net Assets |
: |
Unfavourable |
[ |
(4.59%) |
] |
|
|
The
fluctuating turnover reflects the fierce competition among the existing and
new market players.Higher losses before tax during the year could be due to
the higher operating costs incurred. The Subject's unfavourable returns on
shareholders' funds indicate the management's inefficiency in utilising its
assets to generate returns. |
||||||
|
Working
Capital Control |
||||||
|
Debtor
Ratio |
: |
Unfavourable |
[ |
222
Days |
] |
|
|
Creditors
Ratio |
: |
Unfavourable |
[ |
175
Days |
] |
|
|
The
Subject's debtors ratio was high. The Subject should tighten its credit
control and improve its collection period. 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 |
: |
Unfavourable |
[ |
0.76
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
0.90
Times |
] |
|
|
A low
liquid ratio means that the Subject may be facing working capital deficiency.
If the Subject cannot obtain additional financing or injection of fresh
capital, it may face difficulties in meeting its short term obligations. |
||||||
|
Solvency |
||||||
|
Interest
Cover |
: |
Unfavourable |
[ |
(1.99
Times) |
] |
|
|
Gearing
Ratio |
: |
Favourable |
[ |
0.64
Times |
] |
|
|
The
Subject incurred losses in the year. It did not generate sufficient income to
service its interest. If the situation does not improve, the Subject
may be vulnerable to default in servicing the interest. 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 : |
||||||
|
The
Subject's losses increased but its turnover showed a fluctuating trend.
This indicate the Subject was slowly losing its market share due to its
competitors. Due to its weak liquidity position, the Subject will be faced
with problems in meeting all its short term obligations if no short term loan
is obtained or additional capital injected into the Subject. The Subject's
interest cover was negative, indicating that it did not generate sufficient
income to service its interest. If its result does not show impressive
improvements or succeed obtaining short term financing or capital injection,
it may not be able to service its interest and repay the loans. 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 : LIMITED |
||||||
|
|
||||||
SINGAPORE ECONOMIC / INDUSTRY OUTLOOK
|
|
Major
Economic Indicators : |
2012 |
2013 |
2014 |
2015 |
2016* |
|
|
|||||
|
Population
(Million) |
5.31 |
5.40 |
5.47 |
5.54 |
5.63 |
|
Gross
Domestic Products ( % ) |
1.3 |
3.7 |
(3.5) |
3.7 |
4.8 |
|
Consumer
Price Index |
4.6 |
2.4 |
2.4 |
(0.5) |
(0.7) |
|
Total
Imports (Million) |
474,554.0 |
466,762.0 |
463,779.1 |
407,767.9 |
398,372.0 |
|
Total
Exports (Million) |
510,329.0 |
513,391.0 |
518,922.7 |
476,285.4 |
468,552.0 |
|
|
|||||
|
Unemployment
Rate (%) |
2.0 |
1.9 |
1.9 |
1.9 |
2.1 |
|
Tourist
Arrival (Million) |
14.49 |
15.46 |
15.01 |
15.23 |
16.28 |
|
Hotel
Occupancy Rate (%) |
86.4 |
86.3 |
85.5 |
85.0 |
- |
|
Cellular
Phone Subscriber (Million) |
1.52 |
1.97 |
1.98 |
1.99 |
- |
|
|
|||||
|
Registration
of New Companies (No.) |
31,892 |
37,288 |
41,589 |
34,243 |
35,528 |
|
Registration
of New Companies (%) |
(1.3) |
9.8 |
11.5 |
(17.7) |
3.8 |
|
Liquidation
of Companies (No.) |
17,218 |
17,369 |
18,767 |
21,384 |
- |
|
Liquidation
of Companies (%) |
9.4 |
(5.3) |
8.0 |
13.9 |
- |
|
|
|||||
|
Registration
of New Businesses (No.) |
24,788 |
22,893 |
35,773 |
28,480 |
33,326 |
|
Registration
of New Businesses (%) |
5.51 |
1.70 |
56.30 |
(20.39) |
17.02 |
|
Liquidation
of Businesses (No.) |
22,489 |
22,598 |
22,098 |
26,116 |
- |
|
Liquidation
of Businesses (%) |
(2.2) |
0.5 |
(2.2) |
18.2 |
- |
|
|
|||||
|
Bankruptcy
Orders (No.) |
1,748 |
1,992 |
1,757 |
1,776 |
- |
|
Bankruptcy
Orders (%) |
14.5 |
14.0 |
(11.8) |
1.0 |
- |
|
Bankruptcy
Discharges (No.) |
1,881 |
2,584 |
3,546 |
3,499 |
- |
|
Bankruptcy
Discharges (%) |
35.2 |
37.4 |
37.2 |
(1.3) |
- |
|
|
|||||
|
INDUSTRIES
( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production
of Principal Crops |
5.16 |
1.78 |
4.29 |
3.04 |
- |
|
Fish
Supply & Wholesale |
(0.5) |
(3.8) |
(8.6) |
(8.5) |
(9.9) |
|
|
|||||
|
Manufacturing
# |
|||||
|
Food,
Beverages & Tobacco |
97.9 |
97.9 |
99.4 |
100.0 |
103.7 |
|
Textiles |
140.1 |
119.5 |
102.7 |
100.0 |
93.3 |
|
Wearing
Apparel |
395.4 |
334.1 |
212.6 |
100.0 |
80.3 |
|
Leather
Products & Footwear |
109.5 |
122.0 |
106.5 |
100.0 |
93.2 |
|
Wood
& Wood Products |
93.3 |
103.0 |
107.2 |
100.0 |
90.5 |
|
Paper
& Paper Products |
98.5 |
104.4 |
104.5 |
100.0 |
99.7 |
|
Printing
& Media |
122.8 |
113.8 |
105.968
|
100.0 |
86.9 |
|
Crude
Oil Refineries |
107.1 |
100.7 |
92.2 |
100.0 |
100.5 |
|
Chemical
& Chemical Products |
85.3 |
88.4 |
96.7 |
100.0 |
97.6 |
|
Pharmaceutical
Products |
103.8 |
101.421
|
109.4 |
100.0 |
115.9 |
|
Rubber
& Plastic Products |
113.5 |
109.497
|
109.2 |
100.0 |
87.9 |
|
Non-metallic
Mineral |
108.8 |
107.4 |
90.759 |
100.0 |
93.6 |
|
Basic
Metals |
91.5 |
77.2 |
99.3 |
100.0 |
113.1 |
|
Fabricated
Metal Products |
107.314
|
107.5 |
107.757
|
100.0 |
91.7 |
|
Machinery
& Equipment |
107.3 |
109.1 |
118.2 |
100.0 |
79.3 |
|
Electrical
Machinery |
80.102 |
87.4 |
97.871 |
100.0 |
99.3 |
|
Electronic
Components |
100.7 |
105.0 |
105.6 |
100.0 |
106.3 |
|
Transport
Equipment |
109.9 |
111.1 |
106.68 |
100.0 |
98.7 |
|
|
|||||
|
Construction |
28.70 |
25.40 |
22.00 |
- |
- |
|
Real
Estate |
31.9 |
88.5 |
145.1 |
- |
- |
|
|
|||||
|
Services |
|||||
|
Electricity,
Gas & Water |
6.30 |
6.70 |
6.50 |
- |
- |
|
Transport,
Storage & Communication |
5.30 |
9.80 |
14.20 |
- |
- |
|
Finance
& Insurance |
0.50 |
3.30 |
6.00 |
- |
7.40 |
|
Government
Services |
6.00 |
6.50 |
6.30 |
- |
- |
|
Education
Services |
0.30 |
3.10 |
5.98 |
- |
2.40 |
|
|
|||||
|
* Estimate
/ Preliminary |
|||||
|
# Based
on Index of Industrial Production (2015 = 100) |
|||||
INDUSTRY ANALYSIS
|
|
INDUSTRY
: |
ECONOMY |
|
The
economy expanded by 1.9% in the third quarter of 2015, marginally slower than
the 2.0% growth in the second quarter. On a quarter-on-quarter
seasonally-adjusted annualised basis, the economy grew by 1.9%, a reversal
from the 2.6% contraction in the previous quarter. |
|
|
Among
the key sectors of the economy, the manufacturing sector recorded the weakest
performance, contracting by 6.2% in the third quarter of 2015, extending the
4.8% decline in the previous quarter. The contraction was primarily due to a
decline in the output of the transport engineering, electronics and precision
engineering clusters. |
|
|
The
services producing industries performed better, with all sectors registering
expansions. The wholesale & retail trade sector posted the strongest
growth of 6.8%, followed by the finance & insurance (4.8%), information
& communications (4.8%), other services (2.2%) and business services
(1.5%) sectors. The accommodation & food services and transportation
& storage sectors also recorded positive growth of 0.9% and 0.3%
respectively. |
|
|
Meanwhile,
the construction sector grew by 1.6%, moderating from the 2.2% growth in the
second quarter of 2015. The sectors that contributed the most to economic
growth in the third quarter of 2015 were the wholesale & retail trade and
finance & insurance sectors. Together, they accounted for about 97% of
overall GDP growth. |
|
|
Total
demand rose by 4.1% in the third quarter, accelerating from the 0.6% growth
in the previous quarter. The expansion was supported by both external and
domestic demand. External demand rose at a faster pace of 3.2%, compared to
the 1.1% growth in the previous quarter. Meanwhile, domestic demand increased
by 6.6%, a rebound from the 0.6% decline in the second quarter. |
|
|
Domestic
demand was driven by consumption expenditure, which grew by 6.7% in the third
quarter of 2015 following the 3.4% growth in the previous quarter. Both
private and public consumption contributed to the rise in consumption
expenditure. Changes in inventories also supported growth, rising by 1.6%, a
reversal from the 2.9% contraction in the previous quarter. Growth in gross
fixed capital formation moderated to 0.2%, from 4.1% in the previous quarter,
weighed down by both public and private investments. Public investments
contracted by 1.1%, a sharp reversal from the 11% growth in the previous
quarter. On the other hand, private investments registered modest growth of
0.5%, slower than the 2.4% growth in the previous quarter. |
|
|
Overall
employment rose by 16,400 on a quarter-on-quarter basis in the third quarter
of 2015, faster than the gains of 9,700 in the previous quarter. However,
this represented a slower rate of increase as compared to the employment
gains of 33,400 in the third quarter of 2014. The increase in employment in
the third quarter brought the total number of employed persons in September
2015 to 3,644,000, 1.7% higher than a year ago. The rate of increase over
2014 was slower compared to that recorded in June 2015 (2.2%). At the
sectoral level, employment in the services and construction sectors expanded
on a quarter-on-quarter basis in the third quarter of 2015, while
manufacturing employment continued to decline. |
|
|
Even
though global growth is expected to improve, the continued slowdown in the
Chinese economy, the services-driven nature of growth in the US, as well as
the trends of in-sourcing in China and the US may mean that external demand
for Singapore and regional countries may not see a significant uplift in
2016. Domestically, the labour market is also expected to be tight, with the
unemployment rate remaining low. |
|
|
Against
this backdrop, the growth outlook for the Singapore economy in 2016 is
modest. While sectors such as finance & insurance and wholesale trade are
expected to support growth, the manufacturing sector is likely to remain
weak. Sector-specific factors may also weigh on the growth of some sectors.
For instance, sustained low oil prices will continue to dampen rig building
activities in the marine & offshore segment. Growth in labour-intensive
sectors such as retail and food services may also be weighed down by labour
constraints. By barring the materialisation of downside risks, the Singapore
economy is expected to grow at a modest pace of "1.0% to 3.0%" in
2016. |
|
|
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. |
|
SUMITOMO
CORPORATION ASIA & OCEANIA PTE. LTD. |
|
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 |
241,531,000 |
57,899,000 |
152,692,000 |
126,958,000 |
139,518,000 |
|
Other
Income |
23,940,000 |
19,477,000 |
16,719,000 |
15,230,000 |
12,248,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
265,471,000 |
77,376,000 |
169,411,000 |
142,188,000 |
151,766,000 |
|
Costs
of Goods Sold |
(198,447,000) |
(5,924,000) |
(36,531,000) |
(25,336,000) |
(40,306,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
67,024,000 |
71,452,000 |
132,880,000 |
116,852,000 |
111,460,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
(24,799,000) |
(3,582,000) |
46,999,000 |
40,625,000 |
44,015,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
(24,799,000) |
(3,582,000) |
46,999,000 |
40,625,000 |
44,015,000 |
|
Taxation |
1,260,000 |
902,000 |
(6,185,000) |
(5,627,000) |
(6,718,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
(23,539,000) |
(2,680,000) |
40,814,000 |
34,998,000 |
37,297,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As
previously reported |
79,132,000 |
143,102,000 |
163,443,000 |
166,495,000 |
171,549,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
79,132,000 |
143,102,000 |
163,443,000 |
166,495,000 |
171,549,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
55,593,000 |
140,422,000 |
204,257,000 |
201,493,000 |
208,846,000 |
|
DIVIDENDS
- Ordinary (paid & proposed) |
- |
(61,290,000) |
(61,155,000) |
(38,050,000) |
(42,351,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
55,593,000 |
79,132,000 |
143,102,000 |
163,443,000 |
166,495,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||||
|
Loan
from associated companies |
- |
- |
72,000 |
22,000 |
- |
|
Loan
from holding company |
2,000 |
15,000 |
39,000 |
49,000 |
82,000 |
|
Loan
from subsidiary companies |
8,159,000 |
5,379,000 |
5,195,000 |
4,019,000 |
2,133,000 |
|
Others |
146,000 |
33,000 |
531,000 |
285,000 |
295,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
8,307,000 |
5,427,000 |
5,837,000 |
4,375,000 |
2,510,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
1,990,000 |
2,064,000 |
2,185,000 |
2,087,000 |
2,293,000 |
|
AMORTIZATION |
100,000 |
104,000 |
56,000 |
53,000 |
53,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Amortization And Depreciation |
2,090,000 |
2,168,000 |
2,241,000 |
2,140,000 |
2,346,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE SHEET
|
|
SUMITOMO
CORPORATION ASIA & OCEANIA PTE. LTD. |
|
ASSETS
EMPLOYED: |
|||||
|
FIXED
ASSETS |
4,410,000 |
5,308,000 |
5,570,000 |
4,652,000 |
4,638,000 |
|
LONG
TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Subsidiary
companies |
471,717,000 |
471,717,000 |
424,206,000 |
421,549,000 |
326,529,000 |
|
Associated
companies |
85,825,000 |
85,825,000 |
88,454,000 |
28,760,000 |
26,805,000 |
|
Investments |
- |
- |
68,872,000 |
72,449,000 |
71,328,000 |
|
Deferred
assets |
3,419,000 |
1,519,000 |
27,000 |
57,000 |
33,000 |
|
Others |
67,225,000 |
68,162,000 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
628,186,000 |
627,223,000 |
581,559,000 |
522,815,000 |
424,695,000 |
|
INTANGIBLE
ASSETS |
|||||
|
Others |
1,074,000 |
1,110,000 |
948,000 |
1,004,000 |
1,057,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
INTANGIBLE ASSETS |
1,074,000 |
1,110,000 |
948,000 |
1,004,000 |
1,057,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
633,670,000 |
633,641,000 |
588,077,000 |
528,471,000 |
430,390,000 |
|
CURRENT
ASSETS |
|||||
|
Stocks |
69,439,000 |
55,968,000 |
94,141,000 |
121,688,000 |
111,823,000 |
|
Trade
debtors |
146,655,000 |
165,599,000 |
219,368,000 |
285,829,000 |
238,212,000 |
|
Other
debtors, deposits & prepayments |
4,501,000 |
42,354,000 |
35,007,000 |
13,235,000 |
33,689,000 |
|
Short
term deposits |
4,226,000 |
7,179,000 |
1,485,000 |
857,000 |
- |
|
Amount
due from holding company |
113,583,000 |
48,052,000 |
42,787,000 |
38,892,000 |
41,354,000 |
|
Amount
due from subsidiary companies |
24,278,000 |
10,433,000 |
55,188,000 |
54,728,000 |
124,022,000 |
|
Amount
due from related companies |
44,616,000 |
22,520,000 |
26,518,000 |
19,309,000 |
- |
|
Amount
due from associated companies |
10,223,000 |
30,333,000 |
12,304,000 |
22,161,000 |
338,000 |
|
Cash
& bank balances |
5,325,000 |
5,878,000 |
7,548,000 |
5,552,000 |
6,530,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
422,846,000 |
388,316,000 |
494,346,000 |
562,251,000 |
555,968,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
1,056,516,000 |
1,021,957,000 |
1,082,423,000 |
1,090,722,000 |
986,358,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade
creditors |
95,225,000 |
74,379,000 |
96,928,000 |
124,193,000 |
134,292,000 |
|
Other
creditors & accruals |
43,000 |
195,000 |
528,000 |
37,000 |
12,078,000 |
|
Short
term borrowings/Term loans |
- |
- |
- |
11,994,000 |
5,107,000 |
|
Amounts
owing to holding company |
41,875,000 |
14,436,000 |
23,835,000 |
63,217,000 |
71,810,000 |
|
Amounts
owing to subsidiary companies |
297,823,000 |
296,419,000 |
541,312,000 |
450,071,000 |
412,464,000 |
|
Amounts
owing to related companies |
8,873,000 |
18,584,000 |
5,644,000 |
8,235,000 |
- |
|
Amounts
owing to associated companies |
21,994,000 |
11,514,000 |
2,389,000 |
1,687,000 |
517,000 |
|
Provision
for taxation |
2,201,000 |
2,293,000 |
7,028,000 |
6,753,000 |
7,012,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
468,034,000 |
417,820,000 |
677,664,000 |
666,187,000 |
643,280,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
(45,188,000) |
(29,504,000) |
(183,318,000) |
(103,936,000) |
(87,312,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG
TERM LIABILITIES |
|||||
|
Long
term loans |
- |
- |
- |
- |
5,000,000 |
|
Other
long term borrowings |
229,101,000 |
220,000,000 |
- |
- |
- |
|
Deferred
taxation |
- |
234,000 |
427,000 |
451,000 |
296,000 |
|
Others |
229,000 |
275,000 |
252,000 |
199,000 |
236,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
229,330,000 |
220,509,000 |
679,000 |
650,000 |
5,532,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
359,152,000 |
383,628,000 |
404,080,000 |
423,885,000 |
337,546,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED
BY: |
|||||
|
SHARE
CAPITAL |
|||||
|
Ordinary
share capital |
298,646,000 |
298,646,000 |
254,936,000 |
254,936,000 |
164,706,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
298,646,000 |
298,646,000 |
254,936,000 |
254,936,000 |
164,706,000 |
|
RESERVES |
|||||
|
Retained
profit/(loss) carried forward |
55,593,000 |
79,132,000 |
143,102,000 |
163,443,000 |
166,495,000 |
|
Others |
4,913,000 |
5,850,000 |
6,042,000 |
5,506,000 |
6,345,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
60,506,000 |
84,982,000 |
149,144,000 |
168,949,000 |
172,840,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
359,152,000 |
383,628,000 |
404,080,000 |
423,885,000 |
337,546,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO
|
|
SUMITOMO
CORPORATION ASIA & OCEANIA PTE. LTD. |
|
TYPES
OF FUNDS |
|||||
|
Cash |
9,551,000 |
13,057,000 |
9,033,000 |
6,409,000 |
6,530,000 |
|
Net
Liquid Funds |
9,551,000 |
13,057,000 |
9,033,000 |
6,409,000 |
6,530,000 |
|
Net
Liquid Assets |
(114,627,000) |
(85,472,000) |
(277,459,000) |
(225,624,000) |
(199,135,000) |
|
Net
Current Assets/(Liabilities) |
(45,188,000) |
(29,504,000) |
(183,318,000) |
(103,936,000) |
(87,312,000) |
|
Net
Tangible Assets |
358,078,000 |
382,518,000 |
403,132,000 |
422,881,000 |
336,489,000 |
|
Net
Monetary Assets |
(343,957,000) |
(305,981,000) |
(278,138,000) |
(226,274,000) |
(204,667,000) |
|
PROFIT
& LOSS ITEMS |
|||||
|
Earnings
Before Interest & Tax (EBIT) |
(16,492,000) |
1,845,000 |
52,836,000 |
45,000,000 |
46,525,000 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
(14,402,000) |
4,013,000 |
55,077,000 |
47,140,000 |
48,871,000 |
|
BALANCE
SHEET ITEMS |
|||||
|
Total
Borrowings |
229,101,000 |
220,000,000 |
0 |
11,994,000 |
10,107,000 |
|
Total
Liabilities |
697,364,000 |
638,329,000 |
678,343,000 |
666,837,000 |
648,812,000 |
|
Total
Assets |
1,056,516,000 |
1,021,957,000 |
1,082,423,000 |
1,090,722,000 |
986,358,000 |
|
Net
Assets |
588,482,000 |
604,137,000 |
404,759,000 |
424,535,000 |
343,078,000 |
|
Net
Assets Backing |
359,152,000 |
383,628,000 |
404,080,000 |
423,885,000 |
337,546,000 |
|
Shareholders'
Funds |
359,152,000 |
383,628,000 |
404,080,000 |
423,885,000 |
337,546,000 |
|
Total
Share Capital |
298,646,000 |
298,646,000 |
254,936,000 |
254,936,000 |
164,706,000 |
|
Total
Reserves |
60,506,000 |
84,982,000 |
149,144,000 |
168,949,000 |
172,840,000 |
|
GROWTH
RATIOS (Year on Year) (%) |
|||||
|
Revenue |
317.16 |
(62.08) |
20.27 |
(9.00) |
11.95 |
|
Proft/(Loss)
Before Tax |
(592.32) |
(107.62) |
15.69 |
(7.70) |
(10.68) |
|
Proft/(Loss)
After Tax |
(778.32) |
(106.57) |
16.62 |
(6.16) |
(12.21) |
|
Total
Assets |
3.38 |
(5.59) |
(0.76) |
10.58 |
44.03 |
|
Total
Liabilities |
9.25 |
(5.90) |
1.73 |
2.78 |
89.51 |
|
LIQUIDITY
(Times) |
|||||
|
Cash
Ratio |
0.02 |
0.03 |
0.01 |
0.01 |
0.01 |
|
Liquid
Ratio |
0.76 |
0.80 |
0.59 |
0.66 |
0.69 |
|
Current
Ratio |
0.90 |
0.93 |
0.73 |
0.84 |
0.86 |
|
WORKING
CAPITAL CONTROL (Days) |
|||||
|
Stock
Ratio |
105 |
353 |
225 |
350 |
293 |
|
Debtors
Ratio |
222 |
1,044 |
524 |
822 |
623 |
|
Creditors
Ratio |
175 |
4,583 |
968 |
1,789 |
1,216 |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Gearing
Ratio |
0.64 |
0.57 |
0 |
0.03 |
0.03 |
|
Liabilities
Ratio |
1.94 |
1.66 |
1.68 |
1.57 |
1.92 |
|
Times
Interest Earned Ratio |
(1.99) |
0.34 |
9.05 |
10.29 |
18.54 |
|
Assets
Backing Ratio |
1.20 |
1.28 |
1.58 |
1.66 |
2.04 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating
Profit Margin |
(10.27) |
(6.19) |
30.78 |
32.00 |
31.55 |
|
Net
Profit Margin |
(9.75) |
(4.63) |
26.73 |
27.57 |
26.73 |
|
Return
On Net Assets |
(4.59) |
0.48 |
13.08 |
10.62 |
13.78 |
|
Return
On Capital Employed |
(2.80) |
0.30 |
13.02 |
10.57 |
13.52 |
|
Return
On Shareholders' Funds/Equity |
(6.55) |
(0.70) |
10.10 |
8.26 |
11.05 |
|
Dividend
Pay Out Ratio (Times) |
0 |
22.87 |
1.50 |
1.09 |
1.14 |
|
NOTES
TO ACCOUNTS |
|||||
|
Contingent
Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 66.36 |
|
|
1 |
INR 92.50 |
|
Euro |
1 |
INR 81.05 |
|
SGD |
1 |
INR 50.39 |
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.