MIRA INFORM REPORT

 

 

Report No. :

490781

Report Date :

07.02.2018

 

 

IDENTIFICATION DETAILS

 

Name :

MARIA INTERNATIONAL PTE. LTD.

 

 

Formerly Known As :

JOHN GLOBAL TRADE PTE. LTD

 

 

Registered Office :

77, High Street, 05-14, High Street Plaza, 179433

 

 

Financials (as on) :

31.03.2017

 

 

Country :

Singapore

 

 

Date of Incorporation :

14.03.2011

 

 

Com. Reg. No.:

201106141-C

 

 

Legal Form :

Private Limited (Limited By Share)

 

 

Line of Business :

The Subject is engaged in the trading of timber logs, plywood, doors, metal scrap, cement, steel.

 

 

No. of Employees :

3 [2017]

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but Correct

 

 

Litigation :

Clear

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List

 

Country Name

Previous Rating

(30.06.2017)

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 2014-16 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.

:

201106141-C

COMPANY NAME

:

MARIA INTERNATIONAL PTE. LTD.

FORMER NAME

:

JOHN GLOBAL TRADE PTE. LTD. (09/04/2013)

INCORPORATION DATE

:

14/03/2011

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED (LIMITED BY SHARE)

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

77, HIGH STREET, 05-14, HIGH STREET PLAZA, 179433, SINGAPORE.

BUSINESS ADDRESS

:

77, HIGH STREET, 05-14, HIGH STREET PLAZA, 179433, SINGAPORE.

TEL.NO.

:

65-69085701

FAX.NO.

:

65-62648640

WEB SITE

:

WWW.MIPLSINGAPORE.COM

CONTACT PERSON

:

VIJAYALAKSHMI MOHAN ( DIRECTOR )

PRINCIPAL ACTIVITY

:

TRADING OF TIMBER LOGS, PLYWOOD, DOORS, METAL SCRAP, CEMENT, STEEL ETC

ISSUED AND PAID UP CAPITAL

:

1.00 ORDINARY SHARE, OF A VALUE OF SGD 1.00
500,000.00 ORDINARY SHARE, OF A VALUE OF USD 500,000.00

SALES

:

USD 10,668,114 [2017]

NET WORTH

:

USD 777,599 [2017]

STAFF STRENGTH

:

3 [2017]

BANKER (S)

:

INDIAN BANK

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

FAIR

PAYMENT

:

Slow but Correct

MANAGEMENT CAPABILITY

:

AVERAGE

COMMERCIAL RISK

:

LOW

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

AVERAGE 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 timber logs, plywood, doors, metal scrap, cement, steel etc.

 

The immediate and ultimate holding company of the Subject is JOHN SAW MILL PRIVATE LIMITED, a company incorporated in INDIA.

 

Former Address(es)

Address

As At Date

1, NORTH BRIDGE ROAD, 19-04/05, HIGH STREET CENTRE, 179094

N/A

BLOCK 10, KITCHENER LINK , 05-20, CITY SQUARE RESIDENCES 207-225, 207225

N/A

 

Share Capital History

Date

Issue & Paid Up Capital

21/12/2017

SGD 1.00 & USD 500,000.00

 

The major shareholder(s) of the Subject are shown as follows :

 

Current Shareholder(s) :

Name

Address

IC/PP/Loc No

Shareholding

(%)

JOHN SAW MILL PRIVATE LIMITED
[ORDINARY = USD 500,000 & SGD 1]

10/2, SEEVALAPERI ROAD, PALAYAMKOTTAI, TAMILNADU 627002 ,INDIA

T13UF1441

500,001.00

100.00

---------------

------

500,001.00

100.00

============

=====

+ Also Director

 

The Subject's interest in other companies (Subsidiaries/Associates) are shown as follow :


Local No

Country

Company

Status

(%)

As At

1143757K

MALAYSIA

JAB GLOBAL (MALAYSIA) SDN. BHD.

-

100.00

31/03/2017

 

 

 

DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

MARIA JOHN SAVARI MUTHU

Address

:

3A, KARIA NAINAR STREET, OLD MILITARY LINE, SAMATHANAPURAM P.O, TIRUNELVI DIST., TAMILNADU, INDIA.

IC / PP No

:

G1450921

Nationality

:

INDIAN

Date of Appointment

:

14/03/2011


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

201106141C

MARIA INTERNATIONAL PTE. LTD.

Director

14/03/2011

0.00

-

USD274,643.00

2017

-

21/12/2017

 

DIRECTOR 2

 

Name Of Subject

:

VIJAYALAKSHMI MOHAN

Address

:

16, PHENG GECK AVENUE, SENNETT ESTATE, 348211, SINGAPORE.

Other Address(es)

:

113, WHAMPOA ROAD, 04-89, 320113, SINGAPORE.

IC / PP No

:

S2625332B

Nationality

:

SINGAPOREAN

Date of Appointment

:

14/03/2011



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

201502618C

AADYA GLOBAL PTE. LTD.

Director

16/02/2017

0.00

-

USD74,542.00

2016

-

24/05/2017

2

201106141C

MARIA INTERNATIONAL PTE. LTD.

Director Secretary

14/03/2011 04/02/2015

0.00

-

USD274,643.00

2017

-

21/12/2017

 

DIRECTOR 3

 

Name Of Subject

:

MARIA ANTONY MARIA JOHN

Address

:

3A, KARIA NAINAR STREET, OLD MILITARY LINE, SAMATHANAPURAM, PALAYAMKOTT AI P.O. TIRUNELVELI, TAMIL NASU, 627002, INDIA.

IC / PP No

:

Z2024673

Nationality

:

INDIAN

Date of Appointment

:

14/03/2011


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

201106141C

MARIA INTERNATIONAL PTE. LTD.

Director

14/03/2011

0.00

-

USD274,643.00

2017

-

21/12/2017



MANAGEMENT

 

 

 

1)

Name of Subject

:

VIJAYALAKSHMI MOHAN

Position

:

DIRECTOR

 

 

 

AUDITOR

 

Auditor

:

NATARAJAN & SWAMINATHAN

Auditor' Address

:

N/A

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

VIJAYALAKSHMI MOHAN

IC / PP No

:

S2625332B

Address

:

16, PHENG GECK AVENUE, SENNETT ESTATE, 348211, SINGAPORE.

 

 

 

BANKING


Banking relations are maintained principally with:

 

1)

Name

:

INDIAN BANK

 

 

 

ENCUMBRANCE (S)

 

Charge No

Creation Date

Charge Description

Chargee Name

Total Charge

Status

C201501825

06/02/2015

N/A

INDIAN BANK

-

Unsatisfied

 

LITIGATION CHECK - SUBJECT COMPANY AS A DEFENDANT


* A check has been conducted in our databank againt the Subject whether the subject has been involved in any litigation.

No legal action was found in our databank.
No winding up petition was found in our databank.

 

PAYMENT RECORD

 

 

SOURCES OF RAW MATERIALS:

Local

:

N/A

Overseas

:

N/A


The Subject refused to disclose its suppliers.

The Subject refused to provide any name of trade/service supplier and we are unable to conduct any trade enquiry. However, from financial historical data we conclude that:

 

OVERALL PAYMENT HABIT

Prompt 0-30 Days

[

]

Good 31-60 Days

[

]

Average 61-90 Days

[

X

]

Fair 91-120 Days

[

]

Poor >120 Days

[

]

 

 

CLIENTELE

 

Local

:

YES

Overseas

:

YES

Export Market

:

WORLDWIDE

Credit Term

:

AS AGREED

Payment Mode

:

CHEQUES
TELEGRAPHIC TRANSFER (TT)

 

 

OPERATIONS

 

Goods Traded

:

TIMBER LOGS, PLYWOOD, DOORS, METAL SCRAP, CEMENT, STEEL ETC

 

Total Number of Employees:

YEAR

2017

2016

GROUP

N/A

N/A

COMPANY

3

1

 

Branch

:

NO

 

Other Information:


The Subject is principally engaged in the (as a / as an) trading of timber logs, plywood, doors, metal scrap, cement, steel etc.


The Subject is a trading powerhouse of materials like timber logs, plywood, doors, metal scrap, cement, Steel etc.


The Subject offers all grades of Iron & Steel Scrap, Copper Scrap, Aluminium scrap duly packed in 20 ft containers or break bulk shipments in large or small quantities as per the client's requirements on regular basis.


CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

69085701 / 69085710

Current Telephone Number

:

65-69085701

Match

:

YES

Address Provided by Client

:

NO:77, HIGH STREET, #05-14 HIGH STREET PLAZA, SINGAPORE - 179433.

Current Address

:

77, HIGH STREET, 05-14, HIGH STREET PLAZA, 179433, SINGAPORE.

Match

:

YES

 

Other Investigations


We contacted one of the staff from the Subject and he provided some information.


FINANCIAL ANALYSIS

 

Profitability

Turnover

:

Increased

[

165.52%

]

Profit/(Loss) Before Tax

:

Increased

[

400.70%

]

Return on Shareholder Funds

:

Favourable

[

35.32%

]

Return on Net Assets

:

Favourable

[

53.67%

]

The increase in turnover could be due to the Subject adopting an aggressive marketing strategy.The management had succeeded in turning the Subject into a profit making company. The profit could be due to better control of its operating costs and efficiency in utilising its resources. 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

[

1 Days

]

Debtor Ratio

:

Unfavourable

[

82 Days

]

Creditors Ratio

:

Favourable

[

7 Days

]

The Subject's stocks were moving fast thus reducing its holding cost. This had reduced funds being tied up in stocks. The high debtors' ratio could indicate that the Subject was weak in its credit control. However, the Subject could also giving longer credit periods to its customers in order to boost its sales or to capture / retain its market share. The Subject had a favourable creditors' ratio where the Subject could be taking advantage of the cash discounts and also wanting to maintain goodwill with its creditors.

Liquidity

Liquid Ratio

:

Favourable

[

1.20 Times

]

Current Ratio

:

Unfavourable

[

1.21 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

:

Acceptable

[

3.22 Times

]

Gearing Ratio

:

Unfavourable

[

3.54 Times

]

The Subject's interest cover was slightly low. If there is no sharp fall in its profit or sudden increase in the interest rates, we believe the Subject is able to generate sufficient income to service its interest and repay the loans. The Subject was highly geared, thus it had a high financial risk. The Subject was dependent on loans to finance its business needs. In times of economic downturn and / or high interest rate, the Subject will become less profitable and competitive than other firms in the same industry, which are lowly geared. This is because the Subject has to service the interest and to repay the loan, which will erode part of its profits. The profits will fluctuate depending on the Subject's turnover and the interest it needs to pay.

Overall Assessment :

The higher turnover had helped to reduce the Subject's losses. 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 had an acceptable interest cover. If there is no sudden sharp increase in interest rate or fall in the Subject's profit, we do believe the Subject is able to generate sufficient cash flow to service its interest payment. The Subject's gearing level was high and its going concern will be in doubt if there is no injection of additional shareholders' funds in times of economic downturn and / or high interest rates.

Overall financial condition of the Subject : FAIR

 

 

 

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

-

-

Government Services

6.00

6.50

6.30

-

-

Education Services

0.30

3.10

5.98

-

-

 

* 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

 


Incorporated in 2011, the Subject is a Private Limited company, focusing on trading of timber logs, plywood, doors, metal scrap, cement, steel etc. Having been in business for more than 5 years, the Subject has established a remarkable clientele base for itself which has contributed to its business growth. The Subject is considered as a medium size company with issued and paid up capital standing at SGD 1 & USD 500,000. With a strong backing from its holding company, the Subject enjoys timely financial assistance should the needs arise.

Over the years, the Subject has penetrated into both the local and overseas market. The Subject has positioned itself in the global market and is competing in the industry. Its stable clientele base will enable the Subject to further enhance its business in the near term. Being a small company, the Subject's business operation is supported by 3 employees. Overall, we regard that the Subject's management capability is average. This indicates that the Subject has greater potential to improve its business performance and raising income for the Subject.

We noted that both the turnover and profits have increased compared to the previous year. The higher profit could be due to increase in turnover and better control over its operating costs. Based on the higher profitability, the Subject has generated a favourable return based on its existing shareholders' funds which indicated that the management was efficient in utilising its funds to generate income. The Subject is in good liquidity position with its current liabilities well covered by it current assets. Hence, it has sufficient working capital to meet its short term financial obligations. The high gearing ratio clearly implied that the Subject was supported by more debt than equity. Thus, the Subject is exposed to high financial risk.

The Subject's payment habit is average. With its adequate working capital, the Subject should be able to pay its short term debts.

The industry shows an upward trend and this trend is very likely to sustain in the near terms. Hence, the Subject is expected to benefit from the favourable outlook of the industry.

Based on the above condition, we recommend credit be granted to the Subject normally.



Financials

 

PROFIT AND LOSS ACCOUNT

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS.

MARIA INTERNATIONAL PTE. LTD.

 

Financial Year End

2017-03-31

2016-03-31

Months

12

12

Consolidated Account

GROUP

GROUP

Audited Account

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

Financial Type

FULL

FULL

Currency

USD

USD

TURNOVER

10,668,114

4,017,867

Other Income

136,264

32,745

----------------

----------------

Total Turnover

10,804,378

4,050,612

Costs of Goods Sold

(10,020,379)

(3,665,463)

----------------

----------------

Gross Profit

783,999

385,149

----------------

----------------

PROFIT/(LOSS) FROM OPERATIONS

287,643

(95,658)

----------------

----------------

PROFIT/(LOSS) BEFORE TAXATION

287,643

(95,658)

Taxation

(13,000)

1,706

----------------

----------------

PROFIT/(LOSS) AFTER TAXATION

274,643

(93,952)

----------------

----------------

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

13,053

107,005

----------------

----------------

As restated

13,053

107,005

----------------

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

287,696

13,053

----------------

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

287,696

13,053

=============

=============

INTEREST EXPENSE (as per notes to P&L)

Others

129,663

96,212

----------------

----------------

129,663

96,212

=============

=============

DEPRECIATION (as per notes to P&L)

3,360

2,096

----------------

----------------

Total Amortization And Depreciation

3,360

2,096

=============

=============

 

 

 

BALANCE SHEET

 

 

MARIA INTERNATIONAL PTE. LTD.

 

ASSETS EMPLOYED:

FIXED ASSETS

20,065

12,980

----------------

----------------

TOTAL LONG TERM ASSETS

20,065

12,980

Stocks

36,333

465,923

Trade debtors

2,407,269

349,575

Other debtors, deposits & prepayments

116,644

3,705

Amount due from holding company

103,969

140,077

Cash & bank balances

33,974

58,130

Others

1,667,253

1,433,361

----------------

----------------

TOTAL CURRENT ASSETS

4,365,442

2,450,771

----------------

----------------

TOTAL ASSET

4,385,507

2,463,751

=============

=============

CURRENT LIABILITIES

Trade creditors

205,296

169,719

Other creditors & accruals

374,364

372,245

Other borrowings

1,068,332

527,152

Bill & acceptances payable

1,681,053

349,575

Amounts owing to related companies

6,659

6,659

Amounts owing to director

14,488

10,174

Provision for taxation

13,000

2,546

Other liabilities

244,716

515,715

----------------

----------------

TOTAL CURRENT LIABILITIES

3,607,908

1,953,785

----------------

----------------

NET CURRENT ASSETS/(LIABILITIES)

757,534

496,986

----------------

----------------

TOTAL NET ASSETS

777,599

509,966

=============

=============

SHARE CAPITAL

Ordinary share capital

500,001

500,001

----------------

----------------

TOTAL SHARE CAPITAL

500,001

500,001

General reserve

(10,114)

(3,104)

Retained profit/(loss) carried forward

287,696

13,053

Others

16

16

----------------

----------------

TOTAL RESERVES

277,598

9,965

----------------

----------------

SHAREHOLDERS' FUNDS/EQUITY

777,599

509,966

----------------

----------------

777,599

509,966

=============

=============

 

 

 

FINANCIAL RATIO

 

 

MARIA INTERNATIONAL PTE. LTD.

 

TYPES OF FUNDS

Cash

33,974

58,130

Net Liquid Funds

(1,647,079)

(291,445)

Net Liquid Assets

721,201

31,063

Net Current Assets/(Liabilities)

757,534

496,986

Net Tangible Assets

777,599

509,966

Net Monetary Assets

721,201

31,063

PROFIT & LOSS ITEMS

Earnings Before Interest & Tax (EBIT)

0

0

Earnings Before Interest, Taxes, Depreciation And Amortization (EBITDA)

420,666

2,650

BALANCE SHEET ITEMS

Total Borrowings

2,749,385

876,727

Total Liabilities

3,607,908

1,953,785

Total Assets

4,385,507

2,463,751

Net Assets

777,599

509,966

Net Assets Backing

777,599

509,966

Shareholders' Funds

777,599

509,966

Total Share Capital

500,001

500,001

Total Reserves

277,598

9,965

GROWTH RATIOS (Year on Year)

Revenue

165.52

225.29

Proft/(Loss) Before Tax

400.70

(234.11)

Proft/(Loss) After Tax

392.32

(239.55)

Total Assets

292.22

120.35

Total Liabilities

541.21

247.23

LIQUIDITY (Times)

Cash Ratio

0.01

0.03

Liquid Ratio

1.20

1.02

Current Ratio

1.21

1.25

WORKING CAPITAL CONTROL (Days)

Stock Ratio

1

42

Debtors Ratio

82

32

Creditors Ratio

7

17

SOLVENCY RATIOS (Times)

Gearing Ratio

3.54

1.72

Liabilities Ratio

4.64

3.83

Times Interest Earned Ratio

3.22

0.01

Assets Backing Ratio

1.56

1.02

PERFORMANCE RATIO (%)

Operating Profit Margin

2.70

(2.38)

Net Profit Margin

2.57

(2.34)

Return On Net Assets

53.67

0.11

Return On Capital Employed

53.67

0.11

Return On Shareholders' Funds/Equity

35.32

(18.42)

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 64.27

UK Pound

1

INR 89.72

Euro

1

INR 79.52

SGD

1

INR 48.67

 

Note: Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.