|
|
|
MIRA
INFORM REPORT
|
Report No. : |
493479 |
|
Report Date : |
27.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
BILCARE
TECHNOLOGIES SINGAPORE PTE. LTD. |
|
|
|
|
Formerly Known As : |
SINGULAR ID PTE. LTD. (22/01/2009) |
|
|
|
|
Registered Office : |
52, Changi South Street 1, King Wai
Industrial Building, 486161 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
24.12.2004 |
|
|
|
|
Com. Reg. No.: |
200416616N |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the
printing & research and experimental development on electronics. |
|
|
|
|
No. of Employees : |
100 [2018] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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. |
: |
200416616N |
|
COMPANY NAME |
: |
BILCARE TECHNOLOGIES SINGAPORE PTE. LTD. |
|
FORMER NAME |
: |
SINGULAR ID PTE. LTD. (22/01/2009) |
|
INCORPORATION DATE |
: |
24/12/2004 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
52, CHANGI SOUTH STREET 1, KING WAI
INDUSTRIAL BUILDING, 486161, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
52 CHANGI SOUTH STRET 1, 486161, SINGAPORE. |
|
TEL.NO. |
: |
65-63954130 |
|
FAX.NO. |
: |
65-65424386 |
|
WEB SITE |
: |
WWW.BILCARETECH.COM |
|
CONTACT PERSON |
: |
RAHUL GOPIKISAN BHARADIA ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
PRINTING & RESEARCH AND EXPERIMENTAL
DEVELOPMENT ON ELECTRONICS |
|
ISSUED AND PAID UP CAPITAL |
: |
125,000.00 ORDINARY SHARE, OF A VALUE OF
SGD 7,014,750.00 |
|
SALES |
: |
N/A |
|
NET WORTH |
: |
N/A |
|
STAFF STRENGTH |
: |
100 [2018] |
|
LITIGATION |
: |
TRACED |
|
FINANCIAL CONDITION |
: |
N/A |
|
PAYMENT |
: |
UNKNOWN |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
MODERATE |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
MARGINAL 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) printing & research and experimental development on electronics.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
22/02/2018 |
SGD 10,642,707.80 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
BILCARE LIMITED |
GAT 1028, SHIROLI, RAJGURUNAGAR PUNE
410505, PUNE MAHARASTRA 410505 ,INDIA |
T03UF2876 |
203,332.00 |
100.00 |
|
--------------- |
------ |
|||
|
203,332.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies
(Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
Status |
(%) |
As At |
|
ITALY |
SINGULAR ID ITALIA SRL |
- |
92.50 |
31/03/2012 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
ISAIAH TAN CHU ERN @ TAN CHEN YOU |
|
Address |
: |
351, TAMPINES STREET 33, 03-456, 520351, SINGAPORE. |
|
IC / PP No |
: |
S9217631B |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
07/11/2016 |
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 |
201008136M |
AT-VISIONS ASIA PTE. LTD. |
Director |
26/05/2017 |
0.00 |
- |
282.00 |
- |
- |
18/01/2018 |
|
2 |
200416616N |
BILCARE TECHNOLOGIES SINGAPORE PTE. LTD. |
Director |
07/11/2016 |
0.00 |
- |
SGD(5,146,264.00) |
2012 |
- |
22/02/2018 |
DIRECTOR 2
|
Name Of Subject |
: |
MOHAN HARAKCHAND BHANDARI |
|
Address |
: |
FLAT 604, MANTRI LOUNGE, ANAND PARK, PUNE,
411 007, INDIA. |
|
IC / PP No |
: |
Z1576076 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
18/02/2008 |
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 |
200209840Z |
BILCARE SINGAPORE PTE. LIMITED |
Director |
23/07/2003 |
0.00 |
- |
SGD21,659,290.00 |
2012 |
Winding-Up (02/10/2015) |
22/02/2018 |
|
2 |
200416616N |
BILCARE TECHNOLOGIES SINGAPORE PTE. LTD. |
Director |
18/02/2008 |
0.00 |
- |
SGD(5,146,264.00) |
2012 |
- |
22/02/2018 |
DIRECTOR 3
|
Name Of Subject |
: |
RAHUL GOPIKISAN BHARADIA |
|
Address |
: |
WILLOWS F-701/801, NEXT TO COMFORT ZONE,
BALEWADI, PUNE, 411045, SINGAPORE. |
|
IC / PP No |
: |
Z2078128 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
18/02/2008 |
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 |
200209840Z |
BILCARE SINGAPORE PTE. LIMITED |
Director |
01/08/2008 |
0.00 |
- |
SGD21,659,290.00 |
2012 |
Winding-Up (02/10/2015) |
22/02/2018 |
|
2 |
200416616N |
BILCARE TECHNOLOGIES SINGAPORE PTE. LTD. |
Director |
18/02/2008 |
0.00 |
- |
SGD(5,146,264.00) |
2012 |
- |
22/02/2018 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
RAHUL GOPIKISAN BHARADIA |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
SINGAPORE ASSURANCE PAC |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
RICHALLE WEE CHIA TI |
|
IC / PP No |
: |
S8017613I |
|
|
Address |
: |
60, PAYA LEBAR ROAD, 08-43, PAYA LEBAR
SQUARE, 409051, SINGAPORE. |
|
|
2) |
Company Secretary |
: |
CYNDI SIM GIAM SUNG |
|
IC / PP No |
: |
S7533112F |
|
|
Address |
: |
60, PAYA LEBAR ROAD, 08-43, PAYA LEBAR
SQUARE, 409051, 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. |
||
|
WINDING UP PETITION / ORDER LIQUIDATION |
|
Status |
: |
PENDING |
|
||
|
Name |
: |
BILCARE TECHNOLOGIES SINGAPORE PTE.
LTD.(200416616) |
|
||
|
|||||
|
Type |
: |
HIGH COURT |
Place |
: |
SINGAPORE |
|
Case No |
: |
79 |
Year |
: |
2014 |
|
Petitioner |
: |
MANUFACTURING INNOVATIVE |
|||
|
Petitioner's Sol |
: |
TECHNOLOGIES PTE. LTD. |
|||
|
Petitioner Date |
: |
05/05/2014 |
|||
|
Status |
: |
PENDING |
|
||
|
Name |
: |
BILCARE TECHNOLOGIES SINGAPORE PTE.
LTD.(200416616) |
|
||
|
|||||
|
Type |
: |
HIGH COURT |
Place |
: |
SINGAPORE |
|
Case No |
: |
103 |
Year |
: |
2013 |
|
Petitioner |
: |
ZEMBENI HOLDINGS PTE LTD |
|||
|
Petitioner Date |
: |
24/06/2013 |
|||
PAYMENT RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject is a service provider.
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Services |
: |
PRINTING & RESEARCH AND EXPERIMENTAL
DEVELOPMENT ON ELECTRONICS |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2018 |
2014 |
|||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
100 |
100 |
|||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) printing &
research and experimental development on electronics.
Bilcare Technologies is a research and technology leader focused on creating
next-generation anti-counterfeiting, security and brand protection solutions
for a broad range of industry sectors.
Bilcare Technologies is a business unit of Bilcare Ltd. - an innovation-led
solutions provider that partners with the global pharmaceutical and healthcare
industry to improve patient healthcare outcomes.
The Subject is firmly committed to helping clients accomplish their business
goals while protecting their brands against counterfeiting.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-63954130 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
52 CHANGI SOUTH STRET 1KING WAI INDUSTRIAL
BUILDING 486161 SINGAPORE |
|
Current Address |
: |
52 CHANGI SOUTH STRET 1, 486161, SINGAPORE. |
|
Match |
: |
NO |
|
|
||
Other Investigations
We contacted one of the staff from the Subject and she provided some
information.
The Subject is no longer using KING WAI INDUSTRIAL BUILDING.
The Subject refused to disclose its bankers.
FINANCIAL
ANALYSIS
|
|
No latest financial accounts are available
at the Registry Office, thus we are not able to comment on the Subject's
financial performance. |
||||||
|
Overall financial condition of the Subject
: N/A |
||||||
|
|
||||||
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. |
|
BILCARE TECHNOLOGIES SINGAPORE PTE. LTD. |
|
Financial Year End |
2012-03-31 |
2011-03-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
SGD |
SGD |
|
TURNOVER |
207,816 |
334,445 |
|
Other Income |
271,922 |
25,022 |
|
---------------- |
---------------- |
|
|
Total Turnover |
479,738 |
359,467 |
|
Costs of Goods Sold |
(165,055) |
(150,609) |
|
---------------- |
---------------- |
|
|
Gross Profit |
314,683 |
208,858 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(5,146,264) |
(2,997,830) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
(5,146,264) |
(2,997,830) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
(5,146,264) |
(2,997,830) |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
(5,274,994) |
(2,277,164) |
|
---------------- |
---------------- |
|
|
As restated |
(5,274,994) |
(2,277,164) |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(10,421,258) |
(5,274,994) |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(10,421,258) |
(5,274,994) |
|
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
||
|
Others |
532,055 |
577,715 |
|
---------------- |
---------------- |
|
|
532,055 |
577,715 |
|
|
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
541,925 |
472,055 |
|
AMORTIZATION |
1,272,812 |
42,453 |
|
---------------- |
---------------- |
|
|
Total Amortization And Depreciation |
1,814,737 |
514,508 |
|
============= |
============= |
BALANCE SHEET
|
|
BILCARE TECHNOLOGIES SINGAPORE PTE. LTD. |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
426,073 |
894,971 |
|
---------------- |
---------------- |
|
|
INTANGIBLE ASSETS |
||
|
Others |
11,109,225 |
10,258,221 |
|
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
11,109,225 |
10,258,221 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
11,535,298 |
11,153,192 |
|
CURRENT ASSETS |
||
|
Stocks |
275,691 |
62,045 |
|
Trade debtors |
61,914 |
32,682 |
|
Other debtors, deposits & prepayments |
532,137 |
289,677 |
|
Amount due from holding company |
58,344 |
126,197 |
|
Amount due from related companies |
29,918 |
29,918 |
|
Cash & bank balances |
471,650 |
54,528 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
1,429,654 |
595,047 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
12,964,952 |
11,748,239 |
|
============= |
============= |
|
|
CURRENT LIABILITIES |
||
|
Trade creditors |
927,263 |
718,617 |
|
Other creditors & accruals |
335,255 |
513,048 |
|
Short term borrowings/Term loans |
4,097,034 |
1,958,478 |
|
Amounts owing to holding company |
572,021 |
- |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
5,931,573 |
3,190,143 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
(4,501,919) |
(2,595,096) |
|
---------------- |
---------------- |
|
|
LONG TERM LIABILITIES |
||
|
Long term loans |
- |
3,203,825 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
- |
3,203,825 |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
7,033,379 |
5,354,271 |
|
============= |
============= |
|
|
FINANCED BY: |
||
|
SHARE CAPITAL |
||
|
Ordinary share capital |
3,628,958 |
3,628,958 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
3,628,958 |
3,628,958 |
|
RESERVES |
||
|
Exchange equalisation/fluctuation reserve |
(28,488) |
(13,655) |
|
Retained profit/(loss) carried forward |
(10,421,258) |
(5,274,994) |
|
Others |
13,854,167 |
7,013,962 |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
3,404,421 |
1,725,313 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
7,033,379 |
5,354,271 |
|
============= |
============= |
|
|
|
|
|
FINANCIAL RATIO
|
|
BILCARE TECHNOLOGIES SINGAPORE PTE. LTD. |
|
TYPES OF FUNDS |
||
|
Cash |
471,650 |
54,528 |
|
Net Liquid Funds |
471,650 |
54,528 |
|
Net Liquid Assets |
(4,777,610) |
(2,657,141) |
|
Net Current Assets/(Liabilities) |
(4,501,919) |
(2,595,096) |
|
Net Tangible Assets |
(4,075,846) |
(4,903,950) |
|
Net Monetary Assets |
(4,777,610) |
(5,860,966) |
|
PROFIT & LOSS ITEMS |
||
|
Earnings Before Interest & Tax (EBIT) |
(4,614,209) |
(2,420,115) |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
(2,799,472) |
(1,905,607) |
|
BALANCE SHEET ITEMS |
||
|
Total Borrowings |
4,097,034 |
5,162,303 |
|
Total Liabilities |
5,931,573 |
6,393,968 |
|
Total Assets |
12,964,952 |
11,748,239 |
|
Net Assets |
7,033,379 |
5,354,271 |
|
Net Assets Backing |
7,033,379 |
5,354,271 |
|
Shareholders' Funds |
7,033,379 |
5,354,271 |
|
Total Share Capital |
3,628,958 |
3,628,958 |
|
Total Reserves |
3,404,421 |
1,725,313 |
|
GROWTH RATIOS (Year on Year) (%) |
||
|
Revenue |
(37.86) |
- |
|
Proft/(Loss) Before Tax |
(71.67) |
- |
|
Proft/(Loss) After Tax |
(71.67) |
- |
|
Total Assets |
10.36 |
- |
|
Total Liabilities |
(7.23) |
- |
|
LIQUIDITY (Times) |
||
|
Cash Ratio |
0.08 |
0.02 |
|
Liquid Ratio |
0.19 |
0.17 |
|
Current Ratio |
0.24 |
0.19 |
|
WORKING CAPITAL CONTROL (Days) |
||
|
Stock Ratio |
484 |
68 |
|
Debtors Ratio |
109 |
36 |
|
Creditors Ratio |
2,051 |
1,742 |
|
SOLVENCY RATIOS (Times) |
||
|
Gearing Ratio |
0.58 |
0.96 |
|
Liabilities Ratio |
0.84 |
1.19 |
|
Times Interest Earned Ratio |
(8.67) |
(4.19) |
|
Assets Backing Ratio |
(1.12) |
(1.35) |
|
PERFORMANCE RATIO (%) |
||
|
Operating Profit Margin |
(2,476.36) |
(896.36) |
|
Net Profit Margin |
(2,476.36) |
(896.36) |
|
Return On Net Assets |
(65.60) |
(45.20) |
|
Return On Capital Employed |
(25.43) |
(12.86) |
|
Return On Shareholders' Funds/Equity |
(73.17) |
(55.99) |
|
Dividend Pay Out Ratio (Times) |
0 |
0 |
|
NOTES TO ACCOUNTS |
||
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.66 |
|
|
1 |
INR 90.65 |
|
Euro |
1 |
INR 79.70 |
|
SGD |
1 |
INR 49.15 |
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.