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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

492496

Report Date :

16.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

PAN ASIA INTERCONTINENTAL PTE. LTD.

 

 

Registered Office :

180, Cecil Street, 10-01, Bangkok Bank Building, 069546

 

 

Country :

Singapore

 

 

Financials (as on) :

30.06.2015

 

 

Date of Incorporation :

11.10.2010

 

 

Com. Reg. No.:

201021705-M

 

 

Legal Form :

Exempt Private (Limited By Share)

 

 

Line of Business :

The subject is engaged in the supply of forestry products, timber, metal scrap and food commodities.

 

 

No. of Employees :

4 [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 2014-17 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.

:

201021705-M

COMPANY NAME

:

PAN ASIA INTERCONTINENTAL PTE. LTD.

FORMER NAME

:

N/A

INCORPORATION DATE

:

11/10/2010

COMPANY STATUS

:

EXIST

LEGAL FORM

:

EXEMPT PRIVATE (LIMITED BY SHARE)

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

180, CECIL STREET, 10-01, BANGKOK BANK BUILDING, 069546, SINGAPORE.

BUSINESS ADDRESS

:

180, CECIL STREET, 10-01, BANGKOK BANK BUILDING, 069546, SINGAPORE.

TEL.NO.

:

65-62222484

FAX.NO.

:

65-67323875

CONTACT PERSON

:

AJAY KUMAR DHAR ( DIRECTOR )

PRINCIPAL ACTIVITY

:

SUPPLY OF FORESTRY PRODUCTS, TIMBER, METAL SCRAP AND FOOD COMMODITIES

ISSUED AND PAID UP CAPITAL

:

2,154,000.00 ORDINARY SHARE, OF A VALUE OF USD 2,154,000.00 
2.00 ORDINARY SHARE, OF A VALUE OF SGD 2.00 

SALES

:

USD 42,838,896 [2015]

NET WORTH

:

USD 4,006,266 [2015]

STAFF STRENGTH

:

4 [2017]

BANKER (S)

:

MALAYAN BANKING BHD

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

STABLE

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 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 less than SGD5 million are exempted from statutory auditing requirements. Instead of filing audited annual accounts, the Subject has to file in a document duly signed by its director in charge of its finance and the company secretary stating that the Subject is able to meet all its obligations as and when they fall due. 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 .

The Subject is principally engaged in the (as a / as an) supply of forestry products, timber, metal scrap and food commodities.

 

Share Capital History

Date

Issue & Paid Up Capital

12/09/2017

USD 2,154,000.00 & SGD 2.00

 

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


Current Shareholder(s) :

Name

Address

IC/PP/Loc No

Shareholding

(%)

MR. AJAY KUMAR DHAR +
[ORDINARY = USD 1,075,000 & SGD 1]

55, MERRYN ROAD, DUNEARN ESTATE, 298503, SINGAPORE.

S2699761E

1,075,001.00

49.91

TANU MERH DHAR @ TANU MERH +
[ORDINARY = USD 1,075,000 & SGD 1]

55, MERRYN ROAD, DUNEARN ESTATE, 298503, SINGAPORE.

S7182245A

1,075,001.00

49.91

ANNAMALAI VALARMATHI
[USD]

793, YISHUN RING ROAD, 03-3476 760793 ,SINGAPORE

S8175717H

2,000.00

0.09

RAHUL KUMAR CHOUDHARY
[USD]

3B, LORONG LIM HAN SWEE LANE 3, 96000 SIBU, SARAWAK, MALAYSIA.

Z1808398

2,000.00

0.09

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

------

2,154,002.00

100.00

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

=====

 

+ Also Director

 

DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

AUTAR KRISHEN DHAR

Address

:

58/1, BALLYGUNGE CIRCULAR ROAD, FLAT 101A, SAPTAPARNI BUILDING, KOLKATA, 700019, INDIA.

IC / PP No

:

Z021928

Nationality

:

INDIAN

Date of Appointment

:

11/10/2010


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 (Number of Share)

Profit/(loss) After Tax

Financial Year

Status

As At

1

200517839C

ASIA INTERNATIONAL PTE. LTD.

Director

03/01/2006

0.00

USD6,623.00

2016

-

23/08/2017

2

201021705M

PAN ASIA INTERCONTINENTAL PTE. LTD.

Director

11/10/2010

0.00

USD566,010.00

2015

-

12/09/2017

 

DIRECTOR 2

 

Name Of Subject

:

MR. AJAY KUMAR DHAR

Address

:

55, MERRYN ROAD, DUNEARN ESTATE, 298503, SINGAPORE.

IC / PP No

:

S2699761E

Nationality

:

SINGAPOREAN

Date of Appointment

:

11/10/2010

Remark

:

ORDINARY = USD 1,075,000 & SGD 1



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 (Number of Share)

Profit/(loss) After Tax

Financial Year

Status

As At

1

200517839C

ASIA INTERNATIONAL PTE. LTD.

Director

27/12/2005

500,000.00

USD6,623.00

2016

-

23/08/2017

2

201021705M

PAN ASIA INTERCONTINENTAL PTE. LTD.

Director

11/10/2010

1,075,001.00

USD566,010.00

2015

-

12/09/2017

3

200302043E

WOOD CRAFT INTERNATIONAL PTE. LTD.

Director

06/03/2003

400,000.00

-

-

-

09/03/2017

 

DIRECTOR 3

 

Name Of Subject

:

TANU MERH DHAR @ TANU MERH

Address

:

55, MERRYN ROAD, DUNEARN ESTATE, 298503, SINGAPORE.

IC / PP No

:

S7182245A

Nationality

:

SINGAPOREAN

Date of Appointment

:

11/10/2010

Remark

:

ORDINARY = USD 1,075,000 & SGD 1



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 (Number of Share)

Profit/(loss) After Tax

Financial Year

Status

As At

1

200517839C

ASIA INTERNATIONAL PTE. LTD.

Director

15/10/2007

710,000.00

USD6,623.00

2016

-

23/08/2017

2

201021705M

PAN ASIA INTERCONTINENTAL PTE. LTD.

Director

11/10/2010

1,075,001.00

USD566,010.00

2015

-

12/09/2017

3

200302043E

WOOD CRAFT INTERNATIONAL PTE. LTD.

Director

06/03/2003

200,000.00

-

-

-

09/03/2017



MANAGEMENT

 

 

1)

Name of Subject

:

AJAY KUMAR DHAR

Position

:

DIRECTOR

 

AUDITOR

 

Auditor

:

S C MOHAN PAC

Auditor' Address

:

N/A

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

M SAMBASIVAM

IC / PP No

:

S1650785G

Address

:

204, MARSILING DRIVE, 12-192, 730204, SINGAPORE.

 

BANKING


Banking relations are maintained principally with :

1)

Name

:

MALAYAN BANKING BHD

 

 

ENCUMBRANCE (S)

 

Charge No

Creation Date

Charge Description

Chargee Name

Total Charge

Status

C201011741

03/12/2010

N/A

MALAYAN BANKING BERHAD

-

Unsatisfied

C201011742

03/12/2010

N/A

MALAYAN BANKING BERHAD

-

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 any information on its trade 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

Domestic Markets

:

SINGAPORE

Overseas

:

YES

Export Market

:

INDIA

ASIA

Credit Term

:

N/A

Payment Mode

:

CHEQUES
TELEGRAPHIC TRANSFER (TT)

 

OPERATIONS

 

Goods Traded

:

FORESTRY PRODUCTS, TIMBER, METAL SCRAP AND FOOD COMMODITIES

 

Total Number of Employees:

 

YEAR

2017

2016

2015

2014

2013

 

GROUP

N/A

N/A

N/A

N/A

N/A

COMPANY

4

4

4

4

5

 

Branch

:

NO

 

Other Information:


The Subject is principally engaged in the (as a / as an) supply of forestry products, timber, metal scrap and food commodities. 

The Subject refused to disclose any information on its business operation. 


CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

65-62222484

Match

:

N/A

Address Provided by Client

:

180, CECIL STREET 10-03A, BANGKOK BANK BUILDING, SINGAPORE 069546

Current Address

:

180, CECIL STREET, 10-01, BANGKOK BANK BUILDING, 069546, SINGAPORE.

Match

:

NO

 

Other Investigations


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

The Subject had shifted from the address provided.


FINANCIAL ANALYSIS

 

Profitability

Turnover

:

Increased

[

9.26%

]

Profit/(Loss) Before Tax

:

Increased

[

4.07%

]

Return on Shareholder Funds

:

Acceptable

[

14.13%

]

Return on Net Assets

:

Acceptable

[

21.83%

]

The higher turnover could be attributed to the favourable market condition.The Subject's management have been efficient in controlling its operating costs. The Subject's management had generated acceptable return for its shareholders using its assets.

Working Capital Control

Debtor Ratio

:

Favourable

[

29 Days

]

Creditors Ratio

:

Favourable

[

4 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

[

2.01 Times

]

Current Ratio

:

Favourable

[

2.01 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

[

3.54 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 : STABLE

 

 

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 2010, the Subject is an Exempt Private company, focusing on supply of forestry products, timber, metal scrap and food commodities. 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. A paid up capital of USD 2,154,000 & SGD 2 allows the Subject to expand its business more comfortably. We considered that the Subject's business position in the market is much dependent on the efforts of its directors. 

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 4 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. Return on shareholders' funds of the Subject was at an acceptable range 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. Being a zero geared company, the Subject virtually has no financial risk as it is mainly dependent on its internal funds to finance its business. Given a positive net worth standing at USD 4,006,266, the Subject should be able to maintain its business in the near terms. 

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.

 

PROFIT AND LOSS ACCOUNT

 

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

PAN ASIA INTERCONTINENTAL 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

2015-06-30

2014-06-30

Months

12

12

Consolidated Account

Company

Company

Audited Account

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

Financial Type

FULL

FULL

Currency

USD

USD

TURNOVER

42,838,896

39,207,062

Other Income

421,198

364,601

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

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

Total Turnover

43,260,094

39,571,663

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

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

PROFIT/(LOSS) FROM OPERATIONS

627,471

602,936

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

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

PROFIT/(LOSS) BEFORE TAXATION

627,471

602,936

Taxation

(61,461)

(49,755)

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

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

PROFIT/(LOSS) AFTER TAXATION

566,010

553,181

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

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

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

1,286,255

733,074

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

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

As restated

1,286,255

733,074

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

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

PROFIT AVAILABLE FOR APPROPRIATIONS

1,852,265

1,286,255

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

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

RETAINED PROFIT/(LOSS) CARRIED FORWARD

1,852,265

1,286,255

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

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

INTEREST EXPENSE (as per notes to P&L)

Trust receipts

13,069

8,221

Others

234,218

267,541

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

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

247,287

275,762

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

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

 

 

 

 

BALANCE SHEET

 

PAN ASIA INTERCONTINENTAL PTE. LTD.

 

Trade debtors

3,374,638

1,454,816

Other debtors, deposits & prepayments

14,825

6,811

Short term deposits

1,520,172

761,675

Cash & bank balances

2,931,664

2,533,788

Others

126,609

391

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

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

TOTAL CURRENT ASSETS

7,967,908

4,757,481

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

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

TOTAL ASSET

7,967,908

4,757,481

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

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

CURRENT LIABILITIES

Trade creditors

479,123

1,022,339

Other creditors & accruals

120,882

108,718

Provision for taxation

133,000

91,944

Other liabilities

3,228,637

894,224

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

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

TOTAL CURRENT LIABILITIES

3,961,642

2,117,225

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

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

NET CURRENT ASSETS/(LIABILITIES)

4,006,266

2,640,256

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

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

TOTAL NET ASSETS

4,006,266

2,640,256

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

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

SHARE CAPITAL

Ordinary share capital

2,154,001

1,354,001

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

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

TOTAL SHARE CAPITAL

2,154,001

1,354,001

Retained profit/(loss) carried forward

1,852,265

1,286,255

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

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

TOTAL RESERVES

1,852,265

1,286,255

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

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

SHAREHOLDERS' FUNDS/EQUITY

4,006,266

2,640,256

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

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

4,006,266

2,640,256

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

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

 

 

 

 

FINANCIAL RATIO

 

PAN ASIA INTERCONTINENTAL PTE. LTD.

 

TYPES OF FUNDS

Cash

4,451,836

3,295,463

Net Liquid Funds

4,451,836

3,295,463

Net Liquid Assets

4,006,266

2,640,256

Net Current Assets/(Liabilities)

4,006,266

2,640,256

Net Tangible Assets

4,006,266

2,640,256

Net Monetary Assets

4,006,266

2,640,256

PROFIT & LOSS ITEMS

Earnings Before Interest & Tax (EBIT)

0

0

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

874,758

878,698

BALANCE SHEET ITEMS

Total Borrowings

0

0

Total Liabilities

3,961,642

2,117,225

Total Assets

7,967,908

4,757,481

Net Assets

4,006,266

2,640,256

Net Assets Backing

4,006,266

2,640,256

Shareholders' Funds

4,006,266

2,640,256

Total Share Capital

2,154,001

1,354,001

Total Reserves

1,852,265

1,286,255

GROWTH RATIOS (Year on Year)

Revenue

9.26

-

Proft/(Loss) Before Tax

4.07

-

Proft/(Loss) After Tax

2.32

-

Total Assets

-

-

Total Liabilities

-

-

LIQUIDITY (Times)

Cash Ratio

1.12

1.56

Liquid Ratio

2.01

2.25

Current Ratio

2.01

2.25

WORKING CAPITAL CONTROL (Days)

Stock Ratio

0

0

Debtors Ratio

29

14

Creditors Ratio

4

10

SOLVENCY RATIOS (Times)

Gearing Ratio

0

0

Liabilities Ratio

0.99

0.80

Times Interest Earned Ratio

3.54

3.19

Assets Backing Ratio

1.86

1.95

PERFORMANCE RATIO (%)

Operating Profit Margin

1.46

1.54

Net Profit Margin

1.32

1.41

Return On Net Assets

21.83

33.28

Return On Capital Employed

21.83

33.28

Return On Shareholders' Funds/Equity

14.13

20.95

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 63.92

UK Pound

1

INR 89.55

Euro

1

INR 79.68

SGD

1

INR 49.13

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

VAR

 

 

Report Prepared by :

TRU

 

 

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.