|
|
|
MIRA INFORM REPORT
|
Report No. : |
492941 |
|
Report Date : |
23.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
RESORTS WORLD AT
SENTOSA PTE. LTD. |
|
|
|
|
Formerly Known As : |
INFINITY @ THEBAY PTE. LTD. (05/01/2007) |
|
|
|
|
Registered Office : |
8, Sentosa Gateway, Resorts World Sentosa,
098269 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
28.02.2005 |
|
|
|
|
Com. Reg. No.: |
200502573D |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the
development and operation of sentosa integrated resort. |
|
|
|
|
No. of Employees : |
Not Available |
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 |
|
Maximum Credit Limit : |
SGD 192,612,000 (USD 144,459,000) |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
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. |
: |
200502573D |
||||
|
COMPANY NAME |
: |
RESORTS WORLD AT SENTOSA PTE. LTD. |
||||
|
FORMER NAME |
: |
INFINITY @ THEBAY PTE. LTD. (05/01/2007) |
||||
|
INCORPORATION DATE |
: |
28/02/2005 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
8, SENTOSA GATEWAY, RESORTS WORLD SENTOSA,
098269, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
8 SENTOSA GATEWAY RESORTS WORLD SENTOSA,
098269, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-65778888 |
||||
|
FAX.NO. |
: |
65-65778895 |
||||
|
EMAIL |
: |
SALES@RWSENTOSA.COM |
||||
|
WEB SITE |
: |
WWW.RWSENTOSA.COM |
||||
|
CONTACT PERSON |
: |
TAN HEE TECK ( CEO ) |
||||
|
PRINCIPAL ACTIVITY |
: |
DEVELOPMENT AND OPERATION OF SENTOSA
INTEGRATED RESORT |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
2,000,000,000.00 ORDINARY SHARE, OF A VALUE
OF SGD 2,000,000,000.00 |
||||
|
SALES |
: |
SGD 2,225,428,000 [2016] |
||||
|
NET WORTH |
: |
SGD 4,445,925,000 [2016] |
||||
|
STAFF STRENGTH |
: |
N/A [2018] |
||||
|
||||||
|
LITIGATION |
: |
TRACED |
||||
|
FINANCIAL CONDITION |
: |
STABLE |
||||
|
PAYMENT |
: |
REGULAR |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
N/A |
||||
|
GENERAL REPUTATION |
: |
GOOD |
||||
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
||||
|
PROPOSED CREDIT LIMIT |
: |
SGD 192,612,000 (USD 144,459,000) |
||||
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) development and operation of sentosa integrated resort.
The immediate holding company of the Subject
is STAR EAGLE HOLDINGS LIMITED, a company incorporated in VIRGIN ISLANDS,
BRITISH.
The ultimate holding company of the Subject
is GENTING BERHAD, a company incorporated in MALAYSIA.
The intermediate holding company of the
Subject is GENTING SINGAPORE PLC, a company incorporated in ISLE OF MAN.
Former Address(es)
|
Address |
As At Date |
|
39, ARTILLERY AVENUE, 099958 |
N/A |
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
21/02/2018 |
SGD 2,000,000,000.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
STAR EAGLE HOLDINGS LIMITED |
263, MAIN STREET, P.O. BOX 2196, ROAD TOWN,
TORTOLA VIRGIN ISLANDS, BRITISH |
T05UF2621 |
2,000,000,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
2,000,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies
(Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
Status |
(%) |
As At |
|
200802966M |
SINGAPORE |
DCP (SENTOSA) PTE. LTD. |
- |
80.00 |
21/02/2018 |
|
201120265D |
SINGAPORE |
TAMERTON PTE. LTD. |
- |
100.00 |
21/02/2018 |
|
53179740J |
SINGAPORE |
WESTGATE ASIA ENTERPRISE |
- |
100.00 |
21/02/2018 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
LEE ON NAM |
|
Address |
: |
35, JALAN HAJI ALIAS, 01-31, CORONA VILLE,
268535, SINGAPORE. |
|
IC / PP No |
: |
S2508587F |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
22/08/2016 |
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 |
200502573D |
RESORTS WORLD AT SENTOSA PTE. LTD. |
Director |
22/08/2016 |
0.00 |
- |
SGD283,253,000.00 |
2016 |
- |
21/02/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
NANAMI KASASAKI |
|
Address |
: |
100, ROBERTSON QUAY, 03-06, ROBERTSON 100,
238250, SINGAPORE. |
|
IC / PP No |
: |
S7475077Z |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
03/01/2018 |
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 |
200502573D |
RESORTS WORLD AT SENTOSA PTE. LTD. |
Director |
03/01/2018 |
0.00 |
- |
SGD283,253,000.00 |
2016 |
- |
21/02/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
TAN HEE TECK |
|
Address |
: |
327, RIVER VALLEY ROAD, 15-01, YONG AN
PARK, 238359, SINGAPORE. |
|
IC / PP No |
: |
S2702416E |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
08/03/2005 |
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 |
200502573D |
RESORTS WORLD AT SENTOSA PTE. LTD. |
Director |
08/03/2005 |
0.00 |
- |
SGD283,253,000.00 |
2016 |
- |
21/02/2018 |
DIRECTOR 4
|
Name Of Subject |
: |
LEE SHI RUH |
|
Address |
: |
45, CONWAY GROVE, SERANGOON GARDEN ESTATE,
558225, SINGAPORE. |
|
IC / PP No |
: |
S2767432A |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
29/03/2010 |
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 |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
200502573D |
RESORTS WORLD AT SENTOSA PTE. LTD. |
Director |
29/03/2010 |
0.00 |
- |
SGD283,253,000.00 |
2016 |
- |
21/02/2018 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
TAN HEE TECK |
|
Position |
: |
CEO |
|
AUDITOR
|
|
Auditor |
: |
PRICEWATERHOUSECOOPERS LLP |
|
Auditor' Address |
: |
N/A |
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
MARK CHEE WENG HUN |
|
IC / PP No |
: |
S7507541C |
|
|
Address |
: |
9, NEWTON ROAD, 13-08, TRILIGHT, 307997,
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 |
|
C201505273 |
05/05/2015 |
N/A |
DBS BANK LTD. |
- |
|
|
C201505274 |
05/05/2015 |
N/A |
DBS BANK LTD. |
- |
|
|
C201505275 |
05/05/2015 |
N/A |
DBS BANK LTD. |
- |
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.
|
LEGAL ACTION |
|
||||||||||||
|
|||||||||||||
|
Status |
: |
PENDING |
|
||||||||||
|
Code No |
: |
99 |
Case No |
: |
2527 |
||||||||
|
Year |
: |
2011 |
Place |
: |
SINGAPORE |
||||||||
|
Type |
: |
DISTRICT COURT |
|||||||||||
|
Date Filed |
: |
22/08/2011 |
|||||||||||
|
Solicitor Ref |
: |
ML.3378.0411.CAT |
|||||||||||
|
Solicitor Firm |
: |
CLIFFORD LAW LLP |
|||||||||||
|
Plaintiff |
: |
ANDREW JENSEN CAMPBELL |
|||||||||||
|
DEFENDANTS |
: |
|
|||||||||||
|
Hearing Date |
: |
N/A |
|||||||||||
|
Amount Claimed |
: |
5431.40 |
|||||||||||
|
Nature of Claim |
: |
SGD |
|||||||||||
|
Remark |
: |
TORT-NEGLIGENCE |
|||||||||||
|
|
|||||||||||||
|
Status |
: |
PENDING |
|||||||||||
|
Code No |
: |
99 |
Case No |
: |
2836 |
||||||||
|
Year |
: |
2015 |
Place |
: |
SINGAPORE |
||||||||
|
Type |
: |
DISTRICT COURT |
|||||||||||
|
Date Filed |
: |
23/09/2015 |
|||||||||||
|
Solicitor |
: |
NEO POH SENG FREDDY |
|||||||||||
|
Solicitor Ref |
: |
FN20140080472PI-CATH PAM HENG |
|||||||||||
|
Solicitor Firm |
: |
HOH LAW CORPORATION |
|||||||||||
|
Plaintiff |
: |
CATHERINE PAMELA HENG |
|||||||||||
|
DEFENDANTS |
: |
|
|||||||||||
|
Hearing Date |
: |
N/A |
|||||||||||
|
Amount Claimed |
: |
4558.77 |
|||||||||||
|
Nature of Claim |
: |
SGD |
|||||||||||
|
Remark |
: |
NEGLIGENCE (OTHERS - WITH INJURY) |
|||||||||||
|
|
|||||||||||||
|
Status |
: |
PENDING |
|||||||||||
|
Code No |
: |
99 |
Case No |
: |
3036 |
||||||||
|
Year |
: |
2017 |
Place |
: |
SINGAPORE |
||||||||
|
Date Filed |
: |
20/10/2017 |
|||||||||||
|
Solicitor |
: |
LAM YI WEN RACHEL |
|||||||||||
|
Solicitor Ref |
: |
YW/PI60048/17/TK |
|||||||||||
|
Solicitor Firm |
: |
HOH LAW CORPORATION |
|||||||||||
|
Plaintiff |
: |
HUANG YINGKUN |
|||||||||||
|
DEFENDANTS |
: |
|
|||||||||||
|
Hearing Date |
: |
N/A |
|||||||||||
|
Remark |
: |
NEGLIGENCE |
|||||||||||
|
No winding up petition was found in our
databank |
||
|
|
|
|
PAYMENT RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject is a service provider.
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 |
: |
YES |
Percentage |
: |
100% |
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
NO |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CASH |
|||
OPERATIONS
|
|
Services |
: |
DEVELOPMENT AND OPERATION OF SENTOSA INTEGRATED
RESORT |
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2018 |
2016 |
2015 |
2014 |
2013 |
||||
|
|
|||||||||
|
N/A |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
n/a |
3000 |
3000 |
3000 |
3,000 |
||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) development and
operation of sentosa integrated resort.
The Subject is the leisure and gaming company that owns and operates
Singapore’s biggest Integrated Resort, a 49-hectare development called
Resorts World Sentosa. The mega resort is located on Singapore's holiday island
of Sentosa.
The must-see destination welcomed its first visitors at its soft opening in
early 2010. Resorts World Sentosa started operations with the four hotels in
January, the Resorts World Casino in February and Universal Studios Singapore®
family theme park in March, along with MICE facilities that include one of
Asia’s largest Grand Ballrooms. It offers a wide range of entertainment and
shows, as well as celebrity chef restaurants, brand-name boutiques and a
half-kilometer long shopping and dining Strip named FestiveWalk.
Two more hotels, the Marine Life Park and the Maritime Experiential Museum will
be added in subsequent phases of the resort's growth.
Its amenities include a theme park, an aquarium, an adventure cove waterpark, a
dolphin island, an experiential museum, a spa, a casino, hotels, a convention
center, restaurants, and specialty retail outlets.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-65778888 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
GENTING CENTRE 3, LIM TECK KIM ROAD 088934
SINGAPUR |
|
Current Address |
: |
8 SENTOSA GATEWAY RESORTS WORLD SENTOSA,
098269, SINGAPORE. |
|
Match |
: |
NO |
Other Investigations
We contacted one of the staff from the Subject and he provided some information.
The address provided is the Subject's Corporate office.
He refused to disclose the Subject's number of employees.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
2012 - 2016 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2012 - 2016 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
6.37% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
9.26% |
] |
|
|
The continuous fall in turnover could be due
to the lower demand for the Subject's products / services.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 |
||||||
|
Debtor Ratio |
: |
Favourable |
[ |
26 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
0 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 |
[ |
1.80 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.91 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 |
[ |
9.88 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.26 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 lowly geared thus
it had a low financial risk. The Subject was mainly financed by its
shareholders' funds and internally generated funds. In times of economic
slowdown / downturn, the Subject being a lowly geared company, will be able
to compete better than those companies which are highly geared in the same
industry. |
||||||
|
Overall Assessment : |
||||||
|
The Subject's performance deteriorated over
the years with lower 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 as a lowly geared company, will be more
secured compared to those highly geared companies. It has the ability to meet
all its long term obligations. |
||||||
|
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 |
- |
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 : |
ECONOMY |
|
The economy expanded by 1.9% in the third
quarter of 2015, marginally slower than the 2.0% growth in the second
quarter. On a quarter-on-quarter seasonally-adjusted annualised basis, the economy
grew by 1.9%, a reversal from the 2.6% contraction in the previous quarter. |
|
|
Among the key sectors of the economy, the
manufacturing sector recorded the weakest performance, contracting by 6.2% in
the third quarter of 2015, extending the 4.8% decline in the previous
quarter. The contraction was primarily due to a decline in the output of the
transport engineering, electronics and precision engineering clusters. |
|
|
The services producing industries performed
better, with all sectors registering expansions. The wholesale & retail
trade sector posted the strongest growth of 6.8%, followed by the finance
& insurance (4.8%), information & communications (4.8%), other
services (2.2%) and business services (1.5%) sectors. The accommodation &
food services and transportation & storage sectors also recorded positive
growth of 0.9% and 0.3% respectively. |
|
|
Meanwhile, the construction sector grew by
1.6%, moderating from the 2.2% growth in the second quarter of 2015. The
sectors that contributed the most to economic growth in the third quarter of
2015 were the wholesale & retail trade and finance & insurance
sectors. Together, they accounted for about 97% of overall GDP growth. |
|
|
Total demand rose by 4.1% in the third
quarter, accelerating from the 0.6% growth in the previous quarter. The
expansion was supported by both external and domestic demand. External demand
rose at a faster pace of 3.2%, compared to the 1.1% growth in the previous
quarter. Meanwhile, domestic demand increased by 6.6%, a rebound from the
0.6% decline in the second quarter. |
|
|
Domestic demand was driven by consumption
expenditure, which grew by 6.7% in the third quarter of 2015 following the
3.4% growth in the previous quarter. Both private and public consumption
contributed to the rise in consumption expenditure. Changes in inventories
also supported growth, rising by 1.6%, a reversal from the 2.9% contraction
in the previous quarter. Growth in gross fixed capital formation moderated to
0.2%, from 4.1% in the previous quarter, weighed down by both public and
private investments. Public investments contracted by 1.1%, a sharp reversal
from the 11% growth in the previous quarter. On the other hand, private investments
registered modest growth of 0.5%, slower than the 2.4% growth in the previous
quarter. |
|
|
Overall employment rose by 16,400 on a
quarter-on-quarter basis in the third quarter of 2015, faster than the gains
of 9,700 in the previous quarter. However, this represented a slower rate of
increase as compared to the employment gains of 33,400 in the third quarter
of 2014. The increase in employment in the third quarter brought the total
number of employed persons in September 2015 to 3,644,000, 1.7% higher than a
year ago. The rate of increase over 2014 was slower compared to that recorded
in June 2015 (2.2%). At the sectoral level, employment in the services and
construction sectors expanded on a quarter-on-quarter basis in the third
quarter of 2015, while manufacturing employment continued to decline. |
|
|
Even though global growth is expected to
improve, the continued slowdown in the Chinese economy, the services-driven nature
of growth in the US, as well as the trends of in-sourcing in China and the US
may mean that external demand for Singapore and regional countries may not
see a significant uplift in 2016. Domestically, the labour market is also
expected to be tight, with the unemployment rate remaining low. |
|
|
Against this backdrop, the growth outlook
for the Singapore economy in 2016 is modest. While sectors such as finance
& insurance and wholesale trade are expected to support growth, the
manufacturing sector is likely to remain weak. Sector-specific factors may
also weigh on the growth of some sectors. For instance, sustained low oil
prices will continue to dampen rig building activities in the marine &
offshore segment. Growth in labour-intensive sectors such as retail and food
services may also be weighed down by labour constraints. By barring the
materialisation of downside risks, the Singapore economy is expected to grow
at a modest pace of "1.0% to 3.0%" in 2016. |
|
|
OVERALL INDUSTRY OUTLOOK : MARGINAL GROWTH |
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE
WITH SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
RESORTS WORLD AT SENTOSA PTE. LTD. |
|
Financial Year End |
2016-12-31 |
2015-12-31 |
2014-12-31 |
2013-12-31 |
2012-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
GROUP |
GROUP |
GROUP |
|
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 |
SGD |
SGD |
SGD |
SGD |
SGD |
|
TURNOVER |
2,225,428,000 |
2,398,462,000 |
2,858,249,000 |
2,847,942,000 |
2,930,957,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
2,225,428,000 |
2,398,462,000 |
2,858,249,000 |
2,847,942,000 |
2,930,957,000 |
|
Costs of Goods Sold |
(1,631,829,000) |
(1,796,437,000) |
(1,984,854,000) |
(1,897,785,000) |
(1,778,225,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
593,599,000 |
602,025,000 |
873,395,000 |
950,157,000 |
1,152,732,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
366,154,000 |
440,106,000 |
575,378,000 |
523,751,000 |
807,194,000 |
|
SHARE OF PROFITS/(LOSSES) OF ASSOCIATED
COMPANIES |
4,047,000 |
4,827,000 |
5,322,000 |
3,560,000 |
3,516,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
370,201,000 |
444,933,000 |
580,700,000 |
527,311,000 |
810,710,000 |
|
Taxation |
(86,948,000) |
(59,630,000) |
(138,292,000) |
(102,190,000) |
(158,600,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
283,253,000 |
385,303,000 |
442,408,000 |
425,121,000 |
652,110,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
2,854,017,000 |
2,658,940,000 |
2,216,532,000 |
1,791,411,000 |
1,139,301,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
2,854,017,000 |
2,658,940,000 |
2,216,532,000 |
1,791,411,000 |
1,139,301,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
3,137,270,000 |
3,044,243,000 |
2,658,940,000 |
2,216,532,000 |
1,791,411,000 |
|
TRANSFER TO RESERVES - General |
2,153,000 |
59,774,000 |
- |
- |
- |
|
DIVIDENDS - Ordinary (paid & proposed) |
(700,000,000) |
(250,000,000) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
2,439,423,000 |
2,854,017,000 |
2,658,940,000 |
2,216,532,000 |
1,791,411,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Lease interest |
1,036,000 |
1,618,000 |
- |
- |
- |
|
Term loan / Borrowing |
29,662,000 |
39,058,000 |
- |
- |
- |
|
Others |
10,987,000 |
10,992,000 |
38,991,000 |
51,692,000 |
63,592,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
41,685,000 |
51,668,000 |
38,991,000 |
51,692,000 |
63,592,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
269,715,000 |
316,084,000 |
389,208,000 |
391,718,000 |
366,812,000 |
|
AMORTIZATION |
234,995,000 |
19,522,000 |
28,652,000 |
29,783,000 |
25,870,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
504,710,000 |
335,606,000 |
417,860,000 |
421,501,000 |
392,682,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE SHEET
|
|
RESORTS WORLD AT SENTOSA PTE. LTD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
5,070,010,000 |
5,300,835,000 |
5,578,738,000 |
5,847,396,000 |
5,936,126,000 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Investments |
50,908,000 |
46,861,000 |
42,035,000 |
36,713,000 |
33,153,000 |
|
Deferred assets |
- |
1,717,000 |
- |
- |
- |
|
Others |
1,220,000 |
1,463,000 |
3,955,000 |
6,580,000 |
9,045,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
52,128,000 |
50,041,000 |
45,990,000 |
43,293,000 |
42,198,000 |
|
INTANGIBLE ASSETS |
|||||
|
Others |
56,185,000 |
12,423,000 |
31,945,000 |
51,467,000 |
13,164,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
56,185,000 |
12,423,000 |
31,945,000 |
51,467,000 |
13,164,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
5,178,323,000 |
5,363,299,000 |
5,656,673,000 |
5,942,156,000 |
5,991,488,000 |
|
CURRENT ASSETS |
|||||
|
Stocks |
61,510,000 |
57,186,000 |
53,646,000 |
56,097,000 |
53,532,000 |
|
Trade debtors |
155,993,000 |
572,710,000 |
1,042,882,000 |
1,056,954,000 |
845,457,000 |
|
Other debtors, deposits & prepayments |
25,886,000 |
58,130,000 |
40,704,000 |
42,968,000 |
102,209,000 |
|
Short term deposits |
460,724,000 |
707,839,000 |
75,259,000 |
77,208,000 |
110,304,000 |
|
Amount due from holding company |
12,000 |
17,000 |
53,000 |
161,000 |
36,000 |
|
Amount due from subsidiary companies |
440,000 |
35,000 |
857,000 |
3,097,000 |
8,241,000 |
|
Cash & bank balances |
348,487,000 |
375,683,000 |
421,405,000 |
368,925,000 |
671,004,000 |
|
Others |
103,088,000 |
113,223,000 |
139,256,000 |
131,202,000 |
128,129,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
1,156,140,000 |
1,884,823,000 |
1,774,062,000 |
1,736,612,000 |
1,918,912,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
6,334,463,000 |
7,248,122,000 |
7,430,735,000 |
7,678,768,000 |
7,910,400,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
2,205,000 |
3,715,000 |
3,748,000 |
4,191,000 |
4,212,000 |
|
Other creditors & accruals |
333,838,000 |
390,995,000 |
565,565,000 |
731,378,000 |
735,460,000 |
|
Short term borrowings/Term loans |
182,469,000 |
164,224,000 |
517,887,000 |
515,870,000 |
478,859,000 |
|
Amounts owing to holding company |
- |
30,000 |
12,000 |
6,000 |
7,000 |
|
Amounts owing to subsidiary companies |
18,356,000 |
7,362,000 |
18,809,000 |
24,762,000 |
100,912,000 |
|
Amounts owing to related companies |
- |
- |
2,620,000 |
- |
- |
|
Provision for taxation |
66,882,000 |
63,377,000 |
172,517,000 |
145,992,000 |
185,236,000 |
|
Lease payables |
3,121,000 |
2,606,000 |
789,000 |
6,533,000 |
4,775,000 |
|
Other liabilities |
- |
- |
- |
4,395,000 |
5,371,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
606,871,000 |
632,309,000 |
1,281,947,000 |
1,433,127,000 |
1,514,832,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
549,269,000 |
1,252,514,000 |
492,115,000 |
303,485,000 |
404,080,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
|||||
|
Long term loans |
978,103,000 |
1,460,361,000 |
1,184,481,000 |
1,702,367,000 |
2,218,293,000 |
|
Lease obligations |
322,000 |
3,418,000 |
85,000 |
487,000 |
5,916,000 |
|
Deferred taxation |
298,718,000 |
280,371,000 |
228,942,000 |
263,951,000 |
329,663,000 |
|
Retirement benefits provision |
347,000 |
518,000 |
- |
- |
- |
|
Others |
4,177,000 |
6,003,000 |
11,520,000 |
11,393,000 |
8,452,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
1,281,667,000 |
1,750,671,000 |
1,425,028,000 |
1,978,198,000 |
2,562,324,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
4,445,925,000 |
4,865,142,000 |
4,723,760,000 |
4,267,443,000 |
3,833,244,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
FINANCED BY: |
|||||
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
2,000,000,000 |
2,000,000,000 |
2,000,000,000 |
2,000,000,000 |
2,000,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
2,000,000,000 |
2,000,000,000 |
2,000,000,000 |
2,000,000,000 |
2,000,000,000 |
|
RESERVES |
|||||
|
Exchange equalisation/fluctuation reserve |
(56,000) |
(31,000) |
- |
- |
- |
|
Retained profit/(loss) carried forward |
2,439,423,000 |
2,854,017,000 |
2,658,940,000 |
2,216,532,000 |
1,791,411,000 |
|
Employee share option reserve |
6,558,000 |
11,156,000 |
- |
- |
- |
|
Others |
- |
- |
64,820,000 |
50,911,000 |
41,833,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
2,445,925,000 |
2,865,142,000 |
2,723,760,000 |
2,267,443,000 |
1,833,244,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
4,445,925,000 |
4,865,142,000 |
4,723,760,000 |
4,267,443,000 |
3,833,244,000 |
|
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============= |
============= |
============= |
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|
|
|
|
|
|
|
|
FINANCIAL RATIO
|
|
RESORTS WORLD AT SENTOSA PTE. LTD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
809,211,000 |
1,083,522,000 |
496,664,000 |
446,133,000 |
781,308,000 |
|
Net Liquid Funds |
809,211,000 |
1,083,522,000 |
496,664,000 |
446,133,000 |
781,308,000 |
|
Net Liquid Assets |
487,759,000 |
1,195,328,000 |
438,469,000 |
247,388,000 |
350,548,000 |
|
Net Current Assets/(Liabilities) |
549,269,000 |
1,252,514,000 |
492,115,000 |
303,485,000 |
404,080,000 |
|
Net Tangible Assets |
4,389,740,000 |
4,852,719,000 |
4,691,815,000 |
4,215,976,000 |
3,820,080,000 |
|
Net Monetary Assets |
(793,908,000) |
(555,343,000) |
(986,559,000) |
(1,730,810,000) |
(2,211,776,000) |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
411,886,000 |
496,601,000 |
619,691,000 |
579,003,000 |
874,302,000 |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
916,596,000 |
832,207,000 |
1,037,551,000 |
1,000,504,000 |
1,266,984,000 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
1,160,894,000 |
1,628,003,000 |
1,702,453,000 |
2,218,724,000 |
2,703,068,000 |
|
Total Liabilities |
1,888,538,000 |
2,382,980,000 |
2,706,975,000 |
3,411,325,000 |
4,077,156,000 |
|
Total Assets |
6,334,463,000 |
7,248,122,000 |
7,430,735,000 |
7,678,768,000 |
7,910,400,000 |
|
Net Assets |
4,445,925,000 |
4,865,142,000 |
4,723,760,000 |
4,267,443,000 |
3,833,244,000 |
|
Net Assets Backing |
4,445,925,000 |
4,865,142,000 |
4,723,760,000 |
4,267,443,000 |
3,833,244,000 |
|
Shareholders' Funds |
4,445,925,000 |
4,865,142,000 |
4,723,760,000 |
4,267,443,000 |
3,833,244,000 |
|
Total Share Capital |
2,000,000,000 |
2,000,000,000 |
2,000,000,000 |
2,000,000,000 |
2,000,000,000 |
|
Total Reserves |
2,445,925,000 |
2,865,142,000 |
2,723,760,000 |
2,267,443,000 |
1,833,244,000 |
|
GROWTH RATIOS (Year on Year) (%) |
|||||
|
Revenue |
(7.21) |
(16.09) |
0.36 |
(2.83) |
(8.43) |
|
Proft/(Loss) Before Tax |
(16.80) |
(23.38) |
10.12 |
(34.96) |
(27.87) |
|
Proft/(Loss) After Tax |
(26.49) |
(12.91) |
4.07 |
(34.81) |
(28.65) |
|
Total Assets |
(12.61) |
(2.46) |
(3.23) |
(2.93) |
0.20 |
|
Total Liabilities |
(20.75) |
(11.97) |
(20.65) |
(16.33) |
(13.76) |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
1.33 |
1.71 |
0.39 |
0.31 |
0.52 |
|
Liquid Ratio |
1.80 |
2.89 |
1.34 |
1.17 |
1.23 |
|
Current Ratio |
1.91 |
2.98 |
1.38 |
1.21 |
1.27 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
10 |
9 |
7 |
7 |
7 |
|
Debtors Ratio |
26 |
87 |
133 |
135 |
105 |
|
Creditors Ratio |
0 |
1 |
1 |
1 |
1 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.26 |
0.33 |
0.36 |
0.52 |
0.71 |
|
Liabilities Ratio |
0.42 |
0.49 |
0.57 |
0.80 |
1.06 |
|
Times Interest Earned Ratio |
9.88 |
9.61 |
15.89 |
11.20 |
13.75 |
|
Assets Backing Ratio |
2.19 |
2.43 |
2.35 |
2.11 |
1.91 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
16.64 |
18.55 |
20.32 |
18.52 |
27.66 |
|
Net Profit Margin |
12.73 |
16.06 |
15.48 |
14.93 |
22.25 |
|
Return On Net Assets |
9.26 |
10.21 |
13.12 |
13.57 |
22.81 |
|
Return On Capital Employed |
7.12 |
7.49 |
10.03 |
9.19 |
13.64 |
|
Return On Shareholders' Funds/Equity |
6.37 |
7.92 |
9.37 |
9.96 |
17.01 |
|
Dividend Pay Out Ratio (Times) |
2.47 |
0.65 |
0 |
0 |
0 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.05 |
|
|
1 |
INR 90.41 |
|
Euro |
1 |
INR 79.83 |
|
SGD |
1 |
INR 49.00 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.