|
|
|
%20PTE%20LTD%20-%20490803%2013-Feb-2018_files/image002.jpg){kind=small}
%20PTE%20LTD%20-%20490803%2013-Feb-2018_files/image004.jpg)
%20PTE%20LTD%20-%20490803%2013-Feb-2018_files/image006.gif)
MIRA INFORM REPORT
|
Report No. : |
490803 |
|
Report Date : |
13.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
LOUIS
TEAK LUMBER (S) PTE LTD |
|
|
|
|
Registered Office : |
51, Anson Road, 02-63, Anson Centre, 079904 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2016 |
|
|
|
|
Date of Incorporation : |
10.06.1978 |
|
|
|
|
Com. Reg. No.: |
197802573H |
|
|
|
|
Legal Form : |
Exempt Private (Limited by Share) |
|
|
|
|
Line of Business : |
Trading of Timber, Logs, Sawn Timber, Plywood and Related Products. |
|
|
|
|
No. of Employees : |
2 [2018] |
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 : |
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 (30.06.2017) |
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. |
: |
197802573H |
||||
|
COMPANY
NAME |
: |
LOUIS
TEAK LUMBER (S) PTE LTD |
||||
|
FORMER
NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
06/10/1978 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
EXEMPT
PRIVATE (LIMITED BY SHARE) |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
51,
ANSON ROAD, 02-63, ANSON CENTRE, 079904, SINGAPORE. |
||||
|
BUSINESS
ADDRESS |
: |
51,
ANSON ROAD, #02-63 ANSON CENTRE, 079904, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-62271125 |
||||
|
FAX.NO. |
: |
65-62275859 |
||||
|
CONTACT
PERSON |
: |
SHAHUL
HAMEED S/O ABDUSALAM ( MANAGING DIRECTOR ) |
||||
|
PRINCIPAL
ACTIVITY |
: |
TRADING
OF TIMBER, LOGS, SAWN TIMBER, PLYWOOD AND RELATED PRODUCTS |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
10,000.00
ORDINARY SHARE, OF A VALUE OF SGD 100,000.00 |
||||
|
SALES |
: |
USD
6,226,113 [2016] |
||||
|
NET
WORTH |
: |
USD
355,858 [2016] |
||||
|
STAFF
STRENGTH |
: |
2
[2018] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
GOOD |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL
RISK |
: |
N/A |
||||
|
CURRENCY
EXPOSURE |
: |
N/A |
||||
|
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 timber, logs, sawn timber, plywood and related products.
Share
Capital History
|
Date |
Issue
& Paid Up Capital |
|
09/02/2018 |
SGD
100,000.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
MR.
SHAHUL HAMEED S/O ABDUSALAM + |
18,
CEYLON ROAD, 02-05, SPRING @ KATONG, 429748, SINGAPORE. |
S2032346I |
9,001.00 |
90.01 |
|
SULEHA
PRASANNA @ PRASANNA D/O CO SADANANDAN |
253,
ANG MO KIO STREET 21, 04-181 560253 ,SINGAPORE |
S0510228F |
999.00 |
9.99 |
|
--------------- |
------ |
|||
|
10,000.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
DIRECTORS
DIRECTOR
1
|
Name
Of Subject |
: |
TIRUNLAYI
MAHALINGAM ANANTHA NARAYANAN |
|
Address |
: |
4,
BROOKVALE WALK, 03-04, BROOKVALE PARK, 599953, SINGAPORE. |
|
IC
/ PP No |
: |
S2204984D |
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
02/04/2015 |
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 |
197802573H |
LOUIS
TEAK LUMBER (S) PTE LTD |
Director
Secretary |
02/04/2015
04/01/2013 |
0.00 |
- |
USD114,812.00 |
2016 |
- |
09/02/2018 |
DIRECTOR
2
|
Name
Of Subject |
: |
MR.
SHAHUL HAMEED S/O ABDUSALAM |
|
Address |
: |
18,
CEYLON ROAD, 02-05, SPRING @ KATONG, 429748, SINGAPORE. |
|
IC
/ PP No |
: |
S2032346I |
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
27/02/2006 |
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 |
197802573H |
LOUIS
TEAK LUMBER (S) PTE LTD |
Director |
27/02/2006 |
9,001.00 |
90.01 |
USD114,812.00 |
2016 |
- |
09/02/2018 |
MANAGEMENT
|
1)
|
Name
of Subject |
: |
SHAHUL
HAMEED S/O ABDUSALAM |
|
Position |
: |
MANAGING
DIRECTOR |
AUDITOR
|
Auditor |
: |
R.
ASHRAFF ALI & CO |
|
Auditor'
Address |
: |
N/A |
COMPANY SECRETARIES
|
1)
|
Company
Secretary |
: |
TIRUNLAYI
MAHALINGAM ANANTHA NARAYANAN |
|
IC
/ PP No |
: |
S2204984D |
|
|
Address |
: |
4,
BROOKVALE WALK, 03-04, BROOKVALE PARK, 599953, SINGAPORE. |
|
BANKING
Banking relations are maintained principally with :
|
1)
|
Name |
: |
DBS
BANK LTD |
ENCUMBRANCE (S)
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
C201303117 |
26/02/2013 |
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 |
: |
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 |
[ |
X |
] |
Average
61-90 Days |
[ |
] |
|||||
|
Fair
91-120 Days |
[ |
] |
Poor
>120 Days |
[ |
] |
|||||||||
CLIENTELE
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its clientele.
OPERATIONS
|
Goods
Traded |
: |
TIMBER,
LOGS, SAWN TIMBER, PLYWOOD AND RELATED PRODUCTS |
|
|
Total
Number of Employees: |
|||||||||
|
YEAR |
2018 |
2016 |
|||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
2 |
2 |
|||||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) trading of timber,
logs, sawn timber, plywood and related products.
The Subject' main products is timbers and teak.
CURRENT INVESTIGATION
Latest
fresh investigations carried out on the Subject indicated that:
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-62271125 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
51,
ANSON ROAD, 02-63 ANSON CENTRE SINGAPORE 079904 |
|
Current
Address |
: |
51,
ANSON ROAD, #02-63 ANSON CENTRE, 079904, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject and he provided limited
information.
FINANCIAL ANALYSIS
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2014
- 2016 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
2014
- 2016 |
] |
|
|
Return
on Shareholder Funds |
: |
Favourable |
[ |
32.26% |
] |
|
|
Return
on Net Assets |
: |
Favourable |
[ |
41.55% |
] |
|
|
The
Subject's turnover increased steadily as the demand for its products /
services increased due to the goodwill built up over the years.The higher
profit could be attributed to the increase in turnover. Generally the Subject
was profitable. The favourable return on shareholders' funds and return on
net assets indicate that the Subject's management was efficient in utilising
the assets to generate returns. |
||||||
|
Working
Capital Control |
||||||
|
Debtor
Ratio |
: |
Favourable |
[ |
8
Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
16
Days |
] |
|
|
The
favourable debtors' days could be due to the good credit control measures
implemented by the Subject. The Subject had a favourable creditors' ratio
where the Subject could be taking advantage of the cash discounts and also
wanting to maintain goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid
Ratio |
: |
Favourable |
[ |
2.35
Times |
] |
|
|
Current
Ratio |
: |
Favourable |
[ |
2.35
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 |
[ |
5.26
Times |
] |
|
|
Gearing
Ratio |
: |
Favourable |
[ |
0.00
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 had no gearing and hence it had virtually no financial
risk. The Subject was financed by its shareholders' funds and internally
generated fund. During the economic downturn, the Subject, having a zero
gearing, will be able to compete better than those which are highly geared in
the same industry. |
||||||
|
Overall
Assessment : |
||||||
|
Generally,
the Subject's performance has improved with higher turnover and profit. The
Subject was in good liquidity position with its total current liabilities well
covered by its total current assets. With its current net assets, the Subject
should be able to repay its short term obligations. The Subject 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
was a zero gearing company, it was solely dependant on its shareholders to
provide funds to finance its business. The Subject has good chance of getting
loans, if the needs arises. |
||||||
|
Overall
financial condition of the Subject : STRONG |
||||||
SINGAPORE ECONOMIC / INDUSTRY OUTLOOK
|
Major
Economic Indicators : |
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
|
Incorporated
in 1978, the Subject is an Exempt Private company, focusing on trading of
timber, logs, sawn timber, plywood and related products. The Subject has been
in business for over two decades. It has built up a strong clientele base and
satisfactory reputation will enable the Subject to further enhance its
business in the near term. The Subject is expected to enjoy a stable market
shares. Presently, the issued and paid up capital of the Subject stands at
SGD 100,000. We considered that the Subject's business position in the market
is much dependent on the efforts of its director. |
PROFIT AND LOSS ACCOUNT
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
LOUIS
TEAK LUMBER (S) PTE LTD |
Note : The Subject is an Exempt Private
Company and it is not required by law to file its financials for public view.
The below financials are the last financial that submitted by the Subject to
the Registrar before changed to Exempt Private Company.
|
Financial
Year End |
2016-03-31 |
2015-03-31 |
2014-03-31 |
|
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 |
FULL |
|
Currency |
USD |
USD |
USD |
|
TURNOVER |
6,226,113 |
5,035,757 |
3,319,144 |
|
Other
Income |
420 |
369 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
6,226,533 |
5,036,126 |
3,319,144 |
|
Costs
of Goods Sold |
(5,981,867) |
(4,893,823) |
(3,183,775) |
|
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
244,666 |
142,303 |
135,369 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
119,744 |
56,738 |
46,466 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
119,744 |
56,738 |
46,466 |
|
Taxation |
(4,932) |
(3,160) |
(2,937) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
114,812 |
53,578 |
43,529 |
|
---------------- |
---------------- |
---------------- |
|
|
TRANSFER
FROM RESERVES |
- |
(54) |
- |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As
previously reported |
163,724 |
110,200 |
66,671 |
|
---------------- |
---------------- |
---------------- |
|
|
As
restated |
163,724 |
110,200 |
66,671 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
278,536 |
163,724 |
110,200 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
278,536 |
163,724 |
110,200 |
|
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||
|
Trust
receipts |
28,120 |
25,830 |
19,993 |
|
---------------- |
---------------- |
---------------- |
|
|
28,120 |
25,830 |
19,993 |
|
|
============= |
============= |
============= |
|
BALANCE SHEET
|
LOUIS
TEAK LUMBER (S) PTE LTD |
|
---------------- |
---------------- |
---------------- |
|
|
CURRENT
ASSETS |
|||
|
Trade
debtors |
130,000 |
693,139 |
168,499 |
|
Short
term deposits |
148,250 |
147,455 |
154,647 |
|
Amount
due from director |
275,153 |
129,035 |
47,137 |
|
Cash
& bank balances |
66,827 |
109,042 |
59,775 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
620,230 |
1,078,671 |
430,058 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
620,230 |
1,078,671 |
430,058 |
|
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||
|
Trade
creditors |
256,258 |
829,423 |
202,113 |
|
Other
creditors & accruals |
3,182 |
2,507 |
773 |
|
Amounts
owing to director |
- |
- |
37,115 |
|
Provision
for taxation |
4,932 |
5,695 |
2,535 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
264,372 |
837,625 |
242,536 |
|
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
355,858 |
241,046 |
187,522 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
355,858 |
241,046 |
187,522 |
|
============= |
============= |
============= |
|
|
FINANCED
BY: |
|||
|
SHARE
CAPITAL |
|||
|
Ordinary
share capital |
77,322 |
77,322 |
77,322 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
77,322 |
77,322 |
77,322 |
|
RESERVES |
|||
|
Retained
profit/(loss) carried forward |
278,536 |
163,724 |
110,200 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
278,536 |
163,724 |
110,200 |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
355,858 |
241,046 |
187,522 |
|
============= |
============= |
============= |
|
FINANCIAL RATIO
|
LOUIS
TEAK LUMBER (S) PTE LTD |
|
TYPES
OF FUNDS |
|||
|
Cash |
215,077 |
256,497 |
214,422 |
|
Net
Liquid Funds |
215,077 |
256,497 |
214,422 |
|
Net
Liquid Assets |
355,858 |
241,046 |
187,522 |
|
Net
Current Assets/(Liabilities) |
355,858 |
241,046 |
187,522 |
|
Net
Tangible Assets |
355,858 |
241,046 |
187,522 |
|
Net
Monetary Assets |
355,858 |
241,046 |
187,522 |
|
PROFIT
& LOSS ITEMS |
|||
|
Earnings
Before Interest & Tax (EBIT) |
147,864 |
82,568 |
66,459 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
147,864 |
82,568 |
66,459 |
|
BALANCE
SHEET ITEMS |
|||
|
Total
Borrowings |
0 |
0 |
0 |
|
Total
Liabilities |
264,372 |
837,625 |
242,536 |
|
Total
Assets |
620,230 |
1,078,671 |
430,058 |
|
Net
Assets |
355,858 |
241,046 |
187,522 |
|
Net
Assets Backing |
355,858 |
241,046 |
187,522 |
|
Shareholders'
Funds |
355,858 |
241,046 |
187,522 |
|
Total
Share Capital |
77,322 |
77,322 |
77,322 |
|
Total
Reserves |
278,536 |
163,724 |
110,200 |
|
GROWTH
RATIOS (Year on Year) (%) |
|||
|
Revenue |
23.64 |
51.72 |
- |
|
Proft/(Loss)
Before Tax |
111.05 |
22.11 |
- |
|
Proft/(Loss)
After Tax |
114.29 |
23.09 |
- |
|
Total
Assets |
(42.50) |
150.82 |
- |
|
Total
Liabilities |
(68.44) |
245.36 |
- |
|
LIQUIDITY
(Times) |
|||
|
Cash
Ratio |
0.81 |
0.31 |
0.88 |
|
Liquid
Ratio |
2.35 |
1.29 |
1.77 |
|
Current
Ratio |
2.35 |
1.29 |
1.77 |
|
WORKING
CAPITAL CONTROL (Days) |
|||
|
Stock
Ratio |
0 |
0 |
0 |
|
Debtors
Ratio |
8 |
50 |
19 |
|
Creditors
Ratio |
16 |
62 |
23 |
|
SOLVENCY
RATIOS (Times) |
|||
|
Gearing
Ratio |
0 |
0 |
0 |
|
Liabilities
Ratio |
0.74 |
3.47 |
1.29 |
|
Times
Interest Earned Ratio |
5.26 |
3.20 |
3.32 |
|
Assets
Backing Ratio |
4.60 |
3.12 |
2.43 |
|
PERFORMANCE
RATIO (%) |
|||
|
Operating
Profit Margin |
1.92 |
1.13 |
1.40 |
|
Net
Profit Margin |
1.84 |
1.06 |
1.31 |
|
Return
On Net Assets |
41.55 |
34.25 |
35.44 |
|
Return
On Capital Employed |
41.55 |
34.25 |
35.44 |
|
Return
On Shareholders' Funds/Equity |
32.26 |
22.23 |
23.21 |
|
Dividend
Pay Out Ratio (Times) |
0 |
0 |
0 |
|
NOTES
TO ACCOUNTS |
|||
|
Contingent
Liabilities |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.28 |
|
|
1 |
INR 89.02 |
|
Euro |
1 |
INR 78.93 |
|
SGD |
1 |
INR 48.56 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.