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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

492346

Report Date :

22.02.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

NATURAL FOREST PTE. LTD.

 

 

Registered Office :

133, Cecil Street, 10-01(B), Keck Seng Tower, 069535

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2016

 

 

Date of Incorporation :

27.08.2007

 

 

Com. Reg. No.:

200715726R

 

 

Legal Form :

Private Limited (Limited By Share)

 

 

Line of Business :

The subject is principally engaged in the wholesale of 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 :

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

(30.09.2017)

Current Rating

(31.12.2017)

Singapore

A1

A1

 

Risk Category

 

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

SINGAPORE - ECONOMIC OVERVIEW

 

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. Unemployment is very low. The economy depends heavily on exports, particularly of consumer electronics, information technology products, medical and optical devices, pharmaceuticals, and on its vibrant transportation, business, and financial services sectors.

 

The economy contracted 0.6% in 2009 as a result of the global financial crisis, but has continued to grow since 2010. Growth in 2014-17 was slower than during the previous decade, at under 3% annually, largely a result of soft demand for exports amid a sluggish global economy and weak growth in Singapore’s manufacturing sector.

The government is attempting to restructure Singapore’s economy by weaning its dependence on foreign labor, addressing weak productivity growth, and increasing Singaporean wages. Singapore has attracted major investments in advanced manufacturing, pharmaceuticals, and medical technology production and will continue efforts to strengthen its position as Southeast Asia's leading financial and technology hub. Singapore is a member of the Regional Comprehensive Economic Partnership negotiations with the nine other ASEAN members plus Australia, China, India, Japan, South Korea, and New Zealand. In 2015, Singapore formed, with the other ASEAN members, the ASEAN Economic Community.

 

Source : CIA

 

 

 

EXECUTIVE SUMMARY

 

REGISTRATION NO.

:

200715726R

COMPANY NAME

:

NATURAL FOREST PTE. LTD.

FORMER NAME

:

N/A

INCORPORATION DATE

:

27/08/2007

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED (LIMITED BY SHARE)

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

133, CECIL STREET, 10-01(B), KECK SENG TOWER, 069535, SINGAPORE.

BUSINESS ADDRESS

:

133, CECIL STREET, 10-01B, KECK SENG TOWER, 069535, SINGAPORE.

TEL.NO.

:

65-62385920

FAX.NO.

:

65-62385921

CONTACT PERSON

:

YONG ING FATT ( DIRECTOR )

PRINCIPAL ACTIVITY

:

WHOLESALE OF LOGS, SAWN TIMBER, PLYWOOD AND RELATED PRODUCTS

ISSUED AND PAID UP CAPITAL

:

2,470,804.00 ORDINARY SHARE, OF A VALUE OF USD 2,470,804.00 
2,600,000.00 ORDINARY SHARE, OF A VALUE OF SGD 2,600,000.00 

SALES

:

USD 26,336,229 [2016]

NET WORTH

:

USD 5,828,628 [2016]

STAFF STRENGTH

:

2 [2018]

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

POOR

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) wholesale of logs, sawn timber, plywood and related products.

 

Share Capital History

Date

Issue & Paid Up Capital

21/02/2018

USD 2,470,804.00 & SGD 2,600,000.00

 

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


Current Shareholder(s) :

Name

Address

IC/PP/Loc No

Shareholding

(%)

SENT OVERSEAS INVESTMENT PTE. LTD.
[ORDINARY = USD 2,470,804 & SGD 100,000]

133, CECIL STREET, 10-01(B), KECK SENG TOWER 069535 ,SINGAPORE

200715725E

2,570,804.00

50.70

ASHRAF SAUDAGAR KASSAM MERCHANT

BRIGHTLANDS 195, TURNER ROAD, BANDRA, MUMBAI 400050 ,INDIA

S2771594Z

2,500,000.00

49.30

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

------

5,070,804.00

100.00

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

=====

 

+ Also Director



DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

YONG ING FATT

Address

:

12, WIMBORNE ROAD, 436641, SINGAPORE.

IC / PP No

:

S0203127B

Nationality

:

SINGAPOREAN

Date of Appointment

:

27/08/2007


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

200715726R

NATURAL FOREST PTE. LTD.

Director

27/08/2007

0.00

-

USD172,339.00

2016

-

21/02/2018

2

200715725E

SENT OVERSEAS INVESTMENT PTE. LTD.

Director

27/08/2007

0.00

-

282.00

-

-

08/10/2012

 

DIRECTOR 2

 

Name Of Subject

:

HAMZA ASHRAF SAUDAGAR MERCHANT

Address

:

MERCHANT HOME, 245, WATER FIELD ROAD, BANDRA (W) MUMBAI, 400050, INDIA.

IC / PP No

:

M0708434

Nationality

:

INDIAN

Date of Appointment

:

17/12/2015



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

200715726R

NATURAL FOREST PTE. LTD.

Director

17/12/2015

0.00

-

USD172,339.00

2016

-

21/02/2018

 

DIRECTOR 3

 

Name Of Subject

:

SALMIAH BINTE SARPIAI

Address

:

643, HOUGANG AVENUE 8, 10-279, 530643, SINGAPORE.

IC / PP No

:

S1794643I

Nationality

:

SINGAPOREAN

Date of Appointment

:

01/10/2017



INTEREST CHECK

Interest in companies

:

see below

Interest in business

:

none in our databank

Former interest

:

none in our databank

INTEREST IN COMPANY

No

Local No

Company

Designation

App Date

Shareholding

Profit/(loss) After Tax

Financial Year

Status

As At

No.

%

1

199802025E

ABANI TRADING PTE LTD

Secretary

02/07/2012

0.00

-

SGD41,275.00

2011

-

09/03/2017

2

200303112G

CHRIS-RAY ENGINEERING PTE. LTD.

Secretary

15/05/2014

0.00

-

282.00

-

-

13/01/2017

3

199903356W

CMNK COMPUTER SYSTEMS PTE. LTD.

Secretary

23/10/2006

0.00

-

USD1,248,776.00

2016

-

06/03/2017

4

201429198W

CUTECH GREEN VENTURES PTE. LTD.

Secretary

01/10/2014

0.00

-

282.00

-

-

17/05/2016

5

199705171E

EMI ENGINEERING PTE LTD

Secretary

30/06/2009

0.00

-

282.00

-

-

13/10/2017

6

197700040H

ESMAIL & AHMED BROTHERS (1922) PRIVATE LIMITED

Secretary

10/07/2006

0.00

-

282.00

-

-

13/12/2017

7

201130305Z

EVERTOP COMMODITIES PTE. LTD.

Secretary

07/10/2011

0.00

-

USD251,157.00

2016

-

07/08/2017

8

201511024E

EYWA PHARMA PTE. LTD.

Secretary

24/04/2015

0.00

-

282.00

-

-

25/01/2018

9

200604776C

IECOSYSTEMS PTE. LTD.

Secretary

03/04/2006

0.00

-

282.00

-

-

02/05/2013

10

201605802E

IIPT TECHNOLOGIES PTE. LTD.

Secretary

07/03/2016

0.00

-

282.00

-

-

23/03/2017

11

198901091M

IMTEX TRADING PTE LTD

Secretary

09/03/2007

0.00

-

282.00

-

-

13/12/2017

12

198402781Z

LIONAPEX EQUIPMENT PTE LTD

Secretary

19/12/2011

0.00

-

SGD1,376,699.00

2015

-

22/11/2017

13

200809138N

MONJASA PTE. LTD.

Director

01/10/2017

0.00

-

USD(738,000.00)

2016

-

09/01/2018

14

200715726R

NATURAL FOREST PTE. LTD.

Director

01/10/2017

0.00

-

USD172,339.00

2016

-

21/02/2018

15

199102591W

NEAT TECHNOLOGY PTE LTD

Secretary

03/01/2007

0.00

-

282.00

-

-

09/11/2016

16

201025494W

WORLD INTERTRADE PTE. LTD.

Secretary

01/12/2010

0.00

-

282.00

-

-

13/07/2017

17

201304475C

YAMAL TRADE PTE. LTD.

Secretary

19/02/2013

0.00

-

USD(474,982.00)

2014

-

21/03/2016



MANAGEMENT

 

 

1)

Name of Subject

:

YONG ING FATT

Position

:

DIRECTOR

 

AUDITOR

 

Auditor

:

C. S. CHAN & ASSOCIATES PAC

Auditor' Address

:

N/A

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

LIM SOH SEA

IC / PP No

:

S7077960I

Address

:

30, CECIL STREET, 19-08, PRUDENTIAL TOWER, 049712, SINGAPORE.

 

2)

Company Secretary

:

MASDEWIANA BINTE MOHD KASIM

IC / PP No

:

S7935914I

Address

:

213, TAMPINES STREET 23, 02-169, 520213, SINGAPORE.

 

BANKING


No Banker found in our databank. 

 

ENCUMBRANCE (S)


No encumbrance was found in our databank at the time of investigation. 

 

 

LITIGATION CHECK - SUBJECT COMPANY AS A DEFENDANT


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

No legal action was found in our databank.

No winding up petition was found in our databank.

 

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

Domestic Markets

:

SINGAPORE

Overseas

:

YES

Export Market

:

ASIA

Credit Term

:

N/A

Payment Mode

:

CHEQUES
CASH

 

OPERATIONS

 

Goods Traded

:

TIMBER AND WOOD PRODUCTS

 

Total Number of Employees:

 

YEAR

2018

2017

2015

2014

 

GROUP

N/A

N/A

N/A

N/A

COMPANY

2

2

2

2

 

Branch

:

NO

 

Other Information:


The Subject is principally engaged in the (as a / as an) wholesale of logs, sawn timber, plywood and related products. 

The Subject sells the products according to its customers' orders. 


CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

6562385920

Current Telephone Number

:

65-62385920

Match

:

YES

Address Provided by Client

:

10-01 (B) KECK SENG TOWER 133 CECIL STREET 065935 SINGAPORE

Current Address

:

133, CECIL STREET, 10-01B, KECK SENG TOWER, 069535, SINGAPORE.

Match

:

YES

 

Other Investigations


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


FINANCIAL ANALYSIS

 

Profitability

Turnover

:

Erratic

[

2012 - 2016

]

Profit/(Loss) Before Tax

:

Decreased

[

2012 - 2016

]

Return on Shareholder Funds

:

Unfavourable

[

2.96%

]

Return on Net Assets

:

Unfavourable

[

3.86%

]

The fluctuating turnover reflects the fierce competition among the existing and new market players.The dip in profit could be due to the stiff market competition which reduced the Subject's profit margin. The unfavourable return on shareholders' funds could indicate that the Subject was inefficient in utilising its assets to generate returns.

Working Capital Control

Stock Ratio

:

Unfavourable

[

733 Days

]

Debtor Ratio

:

Unfavourable

[

560 Days

]

Creditors Ratio

:

Unfavourable

[

1358 Days

]

The Subject could be incurring higher holding cost. As its capital was tied up in stocks, it could face liquidity problems. The Subject's debtors ratio was high. The Subject should tighten its credit control and improve its collection period. The unfavourable creditors' ratio could be due to the Subject taking advantage of the credit granted by its suppliers. However this may affect the goodwill between the Subject and its suppliers and the Subject may inadvertently have to pay more for its future supplies.

Liquidity

Liquid Ratio

:

Unfavourable

[

0.50 Times

]

Current Ratio

:

Unfavourable

[

1.06 Times

]

A low liquid ratio means that the Subject may be facing working capital deficiency. If the Subject cannot obtain additional financing or injection of fresh capital, it may face difficulties in meeting its short term obligations.

Solvency

Interest Cover

:

Acceptable

[

4.79 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 :

The Subject recorded lower profits as its turnover showed a erratic trend. The Subject's management was unable to control its costs efficiently as its profit showed a downward trend. Due to its weak liquidity position, the Subject will be faced with problems in meeting all its short term obligations if no short term loan is obtained or additional capital injected into the Subject. The Subject 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 : POOR

 

 

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 2007, the Subject is a Private Limited company, focusing on wholesale of logs, sawn timber, plywood and related products. Having been in the industry for over a decade, the Subject has achieved a certain market share and has built up a satisfactory reputation in the market. It should have received supports from its regular customers. A paid up capital of USD 2,470,804 & SGD 2,600,000 allows the Subject to expand its business more comfortably. With a strong backing from its shareholders, 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 2 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. 

Financially, the Subject registered a higher turnover compared to previous year. However, its profits showed a reverse trend. The lower profit achieved was a result of higher operating cost and increased competition. The Subject has generated an unfavourable return on shareholders' funds indicating that the management was inefficient in utilising its funds to generate return. Due to its weak liquidity position, the Subject may face working capital deficiency in meeting its short term financial obligations if no fresh capital are injected into the Subject. 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 5,828,628, 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.

NATURAL FOREST PTE. LTD.

 

Financial Year End

2016-12-31

2015-07-31

2014-07-31

2013-07-31

2012-07-31

Months

17

12

12

12

12

Consolidated Account

Company

Company

Company

Company

Company

Audited Account

YES

YES

YES

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

YES

YES

YES

Financial Type

FULL

FULL

FULL

FULL

FULL

Currency

USD

USD

USD

USD

USD

TURNOVER

26,336,229

24,738,303

179,355,315

237,003,690

181,253,347

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

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

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

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

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

Total Turnover

26,336,229

24,738,303

179,355,315

237,003,690

181,253,347

Costs of Goods Sold

(25,271,971)

(23,679,903)

(177,524,477)

(234,503,918)

(178,372,604)

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

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

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

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

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

Gross Profit

1,064,258

1,058,400

1,830,838

2,499,772

2,880,743

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

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

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

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

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

PROFIT/(LOSS) FROM OPERATIONS

178,112

208,451

305,436

295,401

295,279

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

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

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

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

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

PROFIT/(LOSS) BEFORE TAXATION

178,112

208,451

305,436

295,401

295,279

Taxation

(5,773)

(11,912)

(48,025)

(13,146)

(30,088)

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

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

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

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

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

PROFIT/(LOSS) AFTER TAXATION

172,339

196,539

257,411

282,255

265,191

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

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

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

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

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

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

1,285,278

1,088,739

876,328

644,073

378,882

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

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

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

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

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

As restated

1,285,278

1,088,739

876,328

644,073

378,882

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

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

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

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

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

PROFIT AVAILABLE FOR APPROPRIATIONS

1,457,617

1,285,278

1,133,739

926,328

644,073

DIVIDENDS - Ordinary (paid & proposed)

(25,000)

-

(45,000)

(50,000)

-

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

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

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

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

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

RETAINED PROFIT/(LOSS) CARRIED FORWARD

1,432,617

1,285,278

1,088,739

876,328

644,073

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

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

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

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

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

INTEREST EXPENSE (as per notes to P&L)

Others

47,008

73,603

713,712

1,442,827

1,770,620

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

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

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

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

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

47,008

73,603

713,712

1,442,827

1,770,620

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

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

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

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

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

DEPRECIATION (as per notes to P&L)

64,142

29,882

871

606

3,166

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

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

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

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

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

Total Amortization And Depreciation

64,142

29,882

871

606

3,166

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

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

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

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

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

 

 

 

 

 

 

 

BALANCE SHEET

 

NATURAL FOREST PTE. LTD.

 

ASSETS EMPLOYED:

FIXED ASSETS

226,690

290,832

-

606

-

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

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

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

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

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

TOTAL LONG TERM ASSETS

226,690

290,832

-

606

-

CURRENT ASSETS

Stocks

52,860,061

31,677,561

822,727

-

-

Trade debtors

40,441,904

34,740,666

89,368,710

93,003,739

54,656,957

Other debtors, deposits & prepayments

3,808,372

287,568

328,482

208,378

617,138

Loans & advances - current portion

1,840,516

3,599,833

145,723

-

-

Amount due from holding company

-

-

211,597

634,773

8,175

Amount due from related companies

781,336

3,090,496

1,896,555

1,750,000

4,165,000

Cash & bank balances

420,688

139,166

6,478,239

6,116,265

151,632

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

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

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

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

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

TOTAL CURRENT ASSETS

100,152,877

73,535,290

99,252,033

101,713,155

59,598,902

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

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

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

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

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

TOTAL ASSET

100,379,567

73,826,122

99,252,033

101,713,761

59,598,902

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

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

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

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

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

CURRENT LIABILITIES

Trade creditors

94,038,722

63,367,047

70,491,356

66,421,434

30,968,083

Other creditors & accruals

121,242

4,004,997

3,877,398

1,996,027

151,176

Bank overdraft

-

218,541

-

-

-

Amounts owing to holding company

55,756

63,652

-

-

-

Amounts owing to related companies

-

-

128,621

-

-

Amounts owing to director

1,250

-

1,250

-

-

Provision for taxation

1,049

19,482

43,337

36,439

50,481

Other liabilities

332,920

471,114

21,075,528

29,837,729

26,739,285

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

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

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

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

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

TOTAL CURRENT LIABILITIES

94,550,939

68,144,833

95,617,490

98,291,629

57,909,025

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

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

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

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

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

NET CURRENT ASSETS/(LIABILITIES)

5,601,938

5,390,457

3,634,543

3,421,526

1,689,877

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

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

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

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

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

TOTAL NET ASSETS

5,828,628

5,681,289

3,634,543

3,422,132

1,689,877

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

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

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

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

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

FINANCED BY:

SHARE CAPITAL

Ordinary share capital

4,396,011

4,396,011

2,545,804

2,545,804

1,045,804

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

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

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

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

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

TOTAL SHARE CAPITAL

4,396,011

4,396,011

2,545,804

2,545,804

1,045,804

RESERVES

Retained profit/(loss) carried forward

1,432,617

1,285,278

1,088,739

876,328

644,073

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

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

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

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

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

TOTAL RESERVES

1,432,617

1,285,278

1,088,739

876,328

644,073

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

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

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

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

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

SHAREHOLDERS' FUNDS/EQUITY

5,828,628

5,681,289

3,634,543

3,422,132

1,689,877

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

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

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

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

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

 

 

 

 

 

 

 

FINANCIAL RATIO

 

NATURAL FOREST PTE. LTD.

 

TYPES OF FUNDS

Cash

420,688

139,166

6,478,239

6,116,265

151,632

Net Liquid Funds

420,688

(79,375)

6,478,239

6,116,265

151,632

Net Liquid Assets

(47,258,123)

(26,287,104)

2,811,816

3,421,526

1,689,877

Net Current Assets/(Liabilities)

5,601,938

5,390,457

3,634,543

3,421,526

1,689,877

Net Tangible Assets

5,828,628

5,681,289

3,634,543

3,422,132

1,689,877

Net Monetary Assets

(47,258,123)

(26,287,104)

2,811,816

3,421,526

1,689,877

PROFIT & LOSS ITEMS

Earnings Before Interest & Tax (EBIT)

0

282,054

1,019,148

1,738,228

2,065,899

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

289,262

311,936

1,020,019

1,738,834

2,069,065

BALANCE SHEET ITEMS

Total Borrowings

0

218,541

0

0

0

Total Liabilities

94,550,939

68,144,833

95,617,490

98,291,629

57,909,025

Total Assets

100,379,567

73,826,122

99,252,033

101,713,761

59,598,902

Net Assets

5,828,628

5,681,289

3,634,543

3,422,132

1,689,877

Net Assets Backing

5,828,628

5,681,289

3,634,543

3,422,132

1,689,877

Shareholders' Funds

5,828,628

5,681,289

3,634,543

3,422,132

1,689,877

Total Share Capital

4,396,011

4,396,011

2,545,804

2,545,804

1,045,804

Total Reserves

1,432,617

1,285,278

1,088,739

876,328

644,073

GROWTH RATIOS (Year on Year) (%)

Revenue

6.46

(86.21)

(24.32)

30.76

(21.23)

Proft/(Loss) Before Tax

(14.55)

(31.75)

3.40

0.04

(3.44)

Proft/(Loss) After Tax

(12.31)

(23.65)

(8.80)

6.43

(0.09)

Total Assets

35.97

(25.62)

(2.42)

70.66

35.71

Total Liabilities

38.75

(28.73)

(2.72)

69.73

37.51

LIQUIDITY (Times)

Cash Ratio

0

0

0.07

0.06

0

Liquid Ratio

0.50

0.61

1.03

1.03

1.03

Current Ratio

1.06

1.08

1.04

1.03

1.03

WORKING CAPITAL CONTROL (Days)

Stock Ratio

733

467

2

0

0

Debtors Ratio

560

513

182

143

110

Creditors Ratio

1,358

977

145

103

63

SOLVENCY RATIOS (Times)

Gearing Ratio

0

0.04

0

0

0

Liabilities Ratio

16.22

11.99

26.31

28.72

34.27

Times Interest Earned Ratio

4.79

3.83

1.43

1.20

1.17

Assets Backing Ratio

1.33

1.29

1.43

1.34

1.62

PERFORMANCE RATIO (%)

Operating Profit Margin

0.68

0.84

0.17

0.12

0.16

Net Profit Margin

0.65

0.79

0.14

0.12

0.15

Return On Net Assets

3.86

4.96

28.04

50.79

122.25

Return On Capital Employed

3.86

4.78

28.04

50.79

122.25

Return On Shareholders' Funds/Equity

2.96

3.46

7.08

8.25

15.69

Dividend Pay Out Ratio (Times)

0.15

0

0.17

0.18

0

NOTES TO ACCOUNTS

Contingent Liabilities

0

0

0

0

0



 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 64.82

UK Pound

1

INR 90.65

Euro

1

INR 79.94

SGD

1

INR 49.15

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

TPT

 

 

RATING EXPLANATIONS

 

Credit Rating

 

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

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.