|
|
|
MIRA
INFORM REPORT
|
Report No. : |
489096 |
|
Report Date : |
06.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
FINE DIAMOND PTE LTD |
|
|
|
|
Registered Office : |
101, Cecil Street,
25-11, Tong Eng Building, 069533 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
01.06.1981 |
|
|
|
|
Com. Reg. No.: |
198102429R |
|
|
|
|
Legal Form : |
Exempt Private
(Limited By Share) |
|
|
|
|
Line of Business : |
The
Subject is principally engaged in trading of jewellery, diamonds and its
related products. |
|
|
|
|
No. of Employees : |
Not available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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 (30.06.2017) |
Current Rating (30.09.2017) |
|
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. |
: |
198102429R |
||||
|
COMPANY
NAME |
: |
FINE
DIAMOND PTE LTD |
||||
|
FORMER
NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
01/06/1981 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
EXEMPT
PRIVATE (LIMITED BY SHARE) |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
101,
CECIL STREET, 25-11, TONG ENG BUILDING, 069533, SINGAPORE. |
||||
|
BUSINESS
ADDRESS |
: |
101,
CECIL STREET, 25-11, TONG ENG BUILDING, 069533, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-62257444 |
||||
|
FAX.NO. |
: |
65-62256667 |
||||
|
CONTACT
PERSON |
: |
BAKUL
RAMNIKLAL PARIKH ( DIRECTOR ) |
||||
|
PRINCIPAL
ACTIVITY |
: |
TRADING
OF JEWELLERY, DIAMONDS AND ITS RELATED PRODUCTS |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
2,500,000.00
ORDINARY SHARE, OF A VALUE OF SGD 2,500,000.00 |
||||
|
SALES |
: |
N/A |
||||
|
NET
WORTH |
: |
N/A |
||||
|
STAFF
STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
N/A |
||||
|
PAYMENT |
: |
UNKNOWN
|
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL
RISK |
: |
MODERATE |
||||
|
CURRENCY
EXPOSURE |
: |
MODERATE |
||||
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY
OUTLOOK |
: |
AVERAGE
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) trading of jewellery, diamonds and its related products.
Share Capital History
|
Date |
Issue
& Paid Up Capital |
|
05/02/2018 |
SGD
2,500,000.00 |
The major
shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
BAKUL
RAMNIKLAL PARIKH + |
48,
LAKESHORE VIEW, 098154, SINGAPORE. |
S2223347E |
2,460,000.00 |
98.40 |
|
SWATI
BAKUL PARIKH + |
48,
LAKESHORE VIEW, 098154, SINGAPORE. |
S2553487E |
40,000.00 |
1.60 |
|
--------------- |
------ |
|||
|
2,500,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also
Director
DIRECTORS
|
DIRECTOR 1
|
Name Of
Subject |
: |
SWATI
BAKUL PARIKH |
|
Address |
: |
48,
LAKESHORE VIEW, 098154, SINGAPORE. |
|
IC / PP
No |
: |
S2553487E |
|
Nationality |
: |
BELGIAN |
|
Date of
Appointment |
: |
17/03/1995 |
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 |
198102429R |
FINE
DIAMOND PTE LTD |
Director |
17/03/1995 |
40,000.00 |
1.60 |
SGD(318,872.00) |
2011 |
- |
05/02/2018 |
|
2 |
199102144H |
FINE
JEWELS PTE LTD |
Director |
06/11/1998 |
500,000.00 |
11.11 |
- |
- |
- |
21/12/2017 |
DIRECTOR 2
|
Name Of
Subject |
: |
BAKUL
RAMNIKLAL PARIKH |
|
Address |
: |
48,
LAKESHORE VIEW, 098154, SINGAPORE. |
|
Other
Address(es) |
: |
- 99,
MEYER ROAD 27-02 THE SOVEREIGN, SINGAPORE 437290 - 11A,
JALAN WESTLANDS, 10400 GEORGETOWN, PULAU PINANG, MALAYSIA. |
|
IC / PP
No |
: |
S2223347E |
|
Nationality |
: |
SINGAPOREAN |
|
Date of
Appointment |
: |
01/06/1981 |
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 |
198102429R |
FINE
DIAMOND PTE LTD |
Director |
01/06/1981 |
2,460,000.00 |
98.40 |
SGD(318,872.00) |
2011 |
- |
05/02/2018 |
|
2 |
199102144H |
FINE JEWELS
PTE LTD |
Director |
10/05/1991 |
4,000,000.00 |
88.89 |
- |
- |
- |
21/12/2017 |
MANAGEMENT
|
|
1) |
Name of
Subject |
: |
BAKUL
RAMNIKLAL PARIKH |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
MGI
ALLIANCE SINGAPORE PAC |
|
Auditor'
Address |
: |
N/A |
COMPANY SECRETARIES
|
|
1) |
Company
Secretary |
: |
THIYAGARAJAN
MURUGESAN |
|
IC / PP
No |
: |
S7064651Z |
|
|
Address |
: |
644,
ANG MO KIO, AVENUE 4, 02-850, 560644, SINGAPORE. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
STANDARD
CHARTERED BANK |
|
2) |
Name |
: |
UNITED
OVERSEAS BANK LIMITED |
ENCUMBRANCE (S)
|
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
C200702903 |
17/04/2007 |
N/A |
STANDARD
CHARTERED BANK (SINGAPORE) |
- |
Unsatisfied |
|
C200702904 |
17/04/2007 |
N/A |
STANDARD
CHARTERED BANK (SINGAPORE) |
- |
Unsatisfied |
|
C201602576 |
04/03/2016 |
N/A |
UNITED
OVERSEAS BANK LIMITED |
- |
Unsatisfied |
|
C201602577 |
04/03/2016 |
N/A |
UNITED
OVERSEAS BANK LIMITED |
- |
Unsatisfied |
|
C201603384 |
28/03/2016 |
N/A |
UNITED
OVERSEAS BANK LIMITED |
- |
Unsatisfied |
|
C201603392 |
28/03/2016 |
N/A |
UNITED
OVERSEAS BANK LIMITED |
SGD
11,000,000.00 |
Unsatisfied |
|
C201605865 |
10/06/2016 |
N/A |
DBS
BANK LTD. |
- |
Unsatisfied |
|
C201605909 |
13/06/2016 |
N/A |
DBS
BANK LTD. |
- |
Unsatisfied |
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 |
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic
Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export
Market |
: |
ASIA |
|||
|
Credit
Term |
: |
N/A |
|||
|
Payment
Mode |
: |
CASH |
|||
OPERATIONS
|
|
Goods
Traded |
: |
JEWELLERY,
DIAMONDS AND ITS RELATED PRODUCTS |
|
|
Total
Number of Employees: |
|||||||||
|
YEAR |
2015 |
||||||||
|
|
|||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
6 |
||||||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) trading of jewellery,
diamonds and its related products.
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 |
: |
65-62257444 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
25-11
TONG ENGG BUILDING, 101 CECIL STREET 069533 SINGAPORE |
|
Current
Address |
: |
101,
CECIL STREET, 25-11, TONG ENG BUILDING, 069533, SINGAPORE. |
|
Match |
: |
NO |
Other
Investigations
We have contacted one of the staff from the Subject and she provided some
information.
The address is as per stated in the report.
The Subject refused to disclose its number of employees.
FINANCIAL ANALYSIS
|
|
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. |
||||||
|
Overall
financial condition of the Subject : N/A |
||||||
|
|
||||||
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
: |
TRADING |
|
The
wholesale & retail trade sector expanded by 6.8% in the third quarter of
2015, higher than the 6.0% growth in the preceding quarter. Growth was
supported by both the wholesale trade and retail trade segments. The
wholesale trade segment was boosted by an increase in both domestic and
foreign wholesale trade sales volume. In particular, the domestic wholesale
trade index rose by 7.4%, following the 8.1 % increase in the previous
quarter. The strong performance in domestic wholesale trade was due to a
surge in the sales of petroleum and petroleum products (14%), chemicals &
chemical products (39%) and telecommunications & computers (18%). |
|
|
Similarly,
the foreign wholesale trade index rose by 10% in the third quarter of 2015,
accelerating from the 6.9% rise in the previous quarter. Growth was driven by
improvements in the sales of petroleum & petroleum products (21%),
metals, timber & construction materials (10%) and general wholesale trade
(8.8%). |
|
|
Overall
retail trade sales volume also recorded resilient growth of 5.6% in the third
quarter of 2015, extending the 6.4 % expansion in the second quarter. Growth
was supported by a surge in the volume of motor vehicle sales (44%), which
was in turn due to a substantial increase in the supply of Certificate of
Entitlements. Excluding motor vehicles, retail sales volume increased at a
much slower pace of 0.7% over the same period. The increase in retail sales
volume (excluding motor vehicles) was due to improved non-discretionary goods
sales. For instance, the sales of medical goods & toiletries and
department store goods rose by 8.1% and 3.6% respectively. |
|
|
According
to the Retail News Asia, Food and beverage has overtaken fashion as the
primary driver of demand for retail real estate in Singapore. Despite
declining retail sales and consumer spending, the prime retail sector remained
in good shape during the third quarter 2015. |
|
|
OVERALL
INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
CREDIT RISK
EVALUATION & RECOMMENDATION
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
FINE
DIAMOND 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 |
2011-03-31 |
2010-03-31 |
2009-03-31 |
|
Months |
12 |
12 |
12 |
|
Consolidated
Account |
Company |
Company |
Company |
|
Audited
Account |
YES |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
|
Financial
Type |
FULL |
FULL |
SUMMARY |
|
Currency |
SGD |
SGD |
SGD |
|
TURNOVER |
51,075,396 |
46,287,135 |
40,350,277 |
|
Other
Income |
663,321 |
1,579,612 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
51,738,717 |
47,866,747 |
40,350,277 |
|
Costs
of Goods Sold |
(49,762,986) |
(45,007,920) |
- |
|
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
1,975,731 |
2,858,827 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
(99,249) |
1,203,689 |
(911,047) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
(99,249) |
1,203,689 |
(911,047) |
|
Taxation |
(219,623) |
(36,000) |
(65,270) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
(318,872) |
1,167,689 |
(976,317) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE EXTRAORDINARY ITEMS |
(318,872) |
1,167,689 |
(976,317) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
ATTRIBUTABLE TO SHAREHOLDERS |
(318,872) |
1,167,689 |
(976,317) |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As
previously reported |
1,508,134 |
340,445 |
340,445 |
|
---------------- |
---------------- |
---------------- |
|
|
As
restated |
1,508,134 |
340,445 |
340,445 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
1,189,262 |
1,508,134 |
340,445 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
1,189,262 |
1,508,134 |
340,445 |
|
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
0 |
||
|
Bank
overdraft |
5,775 |
4,902 |
- |
|
Term
loan / Borrowing |
58,433 |
44,288 |
- |
|
Others |
85,562 |
88,350 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
149,770 |
137,540 |
- |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
BALANCE SHEET
|
|
FINE
DIAMOND PTE LTD |
|
ASSETS
EMPLOYED: |
|||
|
FIXED
ASSETS |
266,113 |
276,904 |
6,283,761 |
|
LONG
TERM INVESTMENTS/OTHER ASSETS |
- |
- |
0 |
|
Investment
properties |
5,731,898 |
5,861,494 |
- |
|
Investments |
5,000 |
5,000 |
- |
|
Others |
10,461 |
5,427 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
5,747,359 |
5,871,921 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
6,013,472 |
6,148,825 |
6,283,761 |
|
CURRENT
ASSETS |
- |
- |
0 |
|
Stocks |
7,782,506 |
11,106,522 |
- |
|
Trade
debtors |
35,313,624 |
40,399,195 |
- |
|
Other
debtors, deposits & prepayments |
95,413 |
38,423 |
- |
|
Cash
& bank balances |
932,814 |
1,673,855 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
44,124,357 |
53,217,995 |
44,326,707 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
50,137,829 |
59,366,820 |
50,610,468 |
|
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
0 |
||
|
Trade
creditors |
25,999,060 |
30,995,200 |
- |
|
Other
creditors & accruals |
1,517,465 |
1,611,213 |
- |
|
Short
term borrowings/Term loans |
2,000,000 |
4,400,000 |
- |
|
Provision
for taxation |
214,362 |
43,766 |
- |
|
Other
liabilities |
136,559 |
132,528 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
29,867,446 |
37,182,707 |
27,795,115 |
|
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
14,256,911 |
16,035,288 |
16,531,592 |
|
---------------- |
---------------- |
---------------- |
|
|
LONG
TERM LIABILITIES |
- |
- |
0 |
|
Others |
16,581,121 |
18,175,979 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
16,581,121 |
18,175,979 |
19,974,908 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
20,270,383 |
22,184,113 |
22,815,353 |
|
============= |
============= |
============= |
|
|
FINANCED
BY: |
|||
|
SHARE
CAPITAL |
|||
|
Ordinary
share capital |
2,500,000 |
2,500,000 |
2,500,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
2,500,000 |
2,500,000 |
2,500,000 |
|
RESERVES |
- |
- |
0 |
|
Retained
profit/(loss) carried forward |
1,189,262 |
1,508,134 |
340,445 |
|
Others |
- |
- |
0 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
1,189,262 |
1,508,134 |
340,445 |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
3,689,262 |
4,008,134 |
2,840,445 |
|
============= |
============= |
============= |
|
|
|
|
|
|
FINANCIAL RATIO
|
|
FINE
DIAMOND PTE LTD |
|
TYPES
OF FUNDS |
|||
|
Cash |
932,814 |
1,673,855 |
- |
|
Net
Liquid Funds |
932,814 |
1,673,855 |
- |
|
Net
Liquid Assets |
6,474,405 |
4,928,766 |
16,531,592 |
|
Net
Current Assets/(Liabilities) |
14,256,911 |
16,035,288 |
16,531,592 |
|
Net
Tangible Assets |
20,270,383 |
22,184,113 |
22,815,353 |
|
Net
Monetary Assets |
(10,106,716) |
(13,247,213) |
(3,443,316) |
|
PROFIT
& LOSS ITEMS |
|||
|
Earnings
Before Interest & Tax (EBIT) |
50,521 |
1,341,229 |
- |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
50,521 |
1,341,229 |
- |
|
BALANCE
SHEET ITEMS |
|||
|
Total
Borrowings |
2,000,000 |
4,400,000 |
- |
|
Total
Liabilities |
46,448,567 |
55,358,686 |
47,770,023 |
|
Total
Assets |
50,137,829 |
59,366,820 |
50,610,468 |
|
Net
Assets |
20,270,383 |
22,184,113 |
22,815,353 |
|
Net
Assets Backing |
3,689,262 |
4,008,134 |
2,840,445 |
|
Shareholders'
Funds |
3,689,262 |
4,008,134 |
2,840,445 |
|
Total
Share Capital |
2,500,000 |
2,500,000 |
2,500,000 |
|
Total
Reserves |
1,189,262 |
1,508,134 |
340,445 |
|
GROWTH
RATIOS (Year on Year) (%) |
|||
|
Revenue |
10.34 |
14.71 |
- |
|
Proft/(Loss)
Before Tax |
(108.25) |
232.12 |
- |
|
Proft/(Loss)
After Tax |
(127.31) |
219.60 |
- |
|
Total
Assets |
(15.55) |
17.30 |
- |
|
Total
Liabilities |
(16.10) |
15.89 |
- |
|
LIQUIDITY
(Times) |
|||
|
Cash
Ratio |
0.03 |
0.05 |
- |
|
Liquid
Ratio |
1.22 |
1.13 |
- |
|
Current
Ratio |
1.48 |
1.43 |
1.59 |
|
WORKING
CAPITAL CONTROL (Days) |
|||
|
Stock
Ratio |
56 |
88 |
- |
|
Debtors
Ratio |
252 |
319 |
- |
|
Creditors
Ratio |
191 |
251 |
- |
|
SOLVENCY
RATIOS (Times) |
|||
|
Gearing
Ratio |
0.54 |
1.10 |
- |
|
Liabilities
Ratio |
12.59 |
13.81 |
16.82 |
|
Times
Interest Earned Ratio |
0.34 |
9.75 |
- |
|
Assets
Backing Ratio |
8.11 |
8.87 |
9.13 |
|
PERFORMANCE
RATIO (%) |
|||
|
Operating
Profit Margin |
(0.19) |
2.60 |
(2.26) |
|
Net
Profit Margin |
(0.62) |
2.52 |
(2.42) |
|
Return
On Net Assets |
0.25 |
6.05 |
(3.99) |
|
Return
On Capital Employed |
0.25 |
6.05 |
(3.99) |
|
Return
On Shareholders' Funds/Equity |
(8.64) |
29.13 |
(34.37) |
|
Dividend
Pay Out Ratio (Times) |
0 |
0 |
- |
|
NOTES
TO ACCOUNTS |
|||
|
Contingent
Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.03 |
|
|
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.73 |
|
SGD |
1 |
INR 48.62 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
SYL |
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.