|
|
|
MIRA INFORM REPORT
|
Report No. : |
483562 |
|
Report Date : |
01.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
ADANI GLOBAL PTE.
LTD. |
|
|
|
|
Registered Office : |
80, Raffles Place, 33-20, UOB Plaza, 048624 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2016 |
|
|
|
|
Date of Incorporation : |
08.04.2000 |
|
|
|
|
Com. Reg. No.: |
200003047-N |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally engaged in the
trading of coal & & ship bunkering. |
|
|
|
|
No. of Employees : |
45 [2017] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
SINGAPORE - ECONOMIC OVERVIEW
Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. Unemployment is very low. The economy depends heavily on exports, particularly of consumer electronics, information technology products, medical and optical devices, pharmaceuticals, and on its vibrant transportation, business, and financial services sectors.
The economy contracted 0.6% in 2009 as a result of the global financial crisis, but has continued to grow since 2010. Growth in 2014-16 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. |
: |
200003047-N |
||||
|
COMPANY NAME |
: |
ADANI GLOBAL PTE. LTD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
08/04/2000 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
80, RAFFLES PLACE, 33-20, UOB PLAZA,
048624, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
80, RAFFLES PLACE, 33-20, UOB PLAZA 2, 048264,
SINGAPORE. |
||||
|
TEL.NO. |
: |
65-62252070 |
||||
|
FAX.NO. |
: |
65-62252537 |
||||
|
CONTACT PERSON |
: |
ARUP ROY ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF COAL & & SHIP BUNKERING |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
43,117,530.00 ORDINARY SHARE, OF A VALUE OF
SGD 43,117,530.00 |
||||
|
SALES |
: |
USD 3,485,238,954 [2016] |
||||
|
NET WORTH |
: |
USD 910,054,374 [2016] |
||||
|
STAFF STRENGTH |
: |
45 [2017] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STABLE |
||||
|
PAYMENT |
: |
NO COMPLAINTS |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
HIGH |
||||
|
GENERAL REPUTATION |
: |
GOOD |
||||
|
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) trading of coal & & ship bunkering.
The immediate holding company of the Subject
is ADANI GLOBAL LIMITED, a company incorporated in MAURITIUS.
The ultimate holding company of the Subject
is ADANI ENTERPRISES LTD, a company incorporated in INDIA.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
14/07/2017 |
SGD 43,117,530.00 |
The major shareholder(s) of the Subject are
shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
ADANI GLOBAL LIMITED |
SUITE 501, ST JAMES COURT, ST. DENIS
STREET, PORT-LOUIS MAURITIUS |
T07UF0079 |
43,117,530.00 |
100.00 |
|
--------------- |
------ |
|||
|
43,117,530.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies
(Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
Status |
(%) |
As At |
|
201706649D |
SINGAPORE |
ADANI GREEN ENERGY PTE. LTD. |
- |
51.00 |
14/07/2017 |
|
AUSTRALIA |
ADANI INFRASTRUCTURE PTY LTD |
- |
100.00 |
31/03/2016 |
|
|
AUSTRALIA |
ADANI MINERALS PTY LTD |
- |
100.00 |
31/03/2016 |
|
|
AUSTRALIA |
ADANI MINING PTY LTD |
- |
90.00 |
31/03/2016 |
|
|
UNITED STATES |
ADANI NORTH AMERICA INC. |
- |
100.00 |
31/03/2016 |
|
|
200614235E |
SINGAPORE |
ADANI SHIPPING PTE. LTD. |
- |
100.00 |
14/07/2017 |
|
200910524K |
SINGAPORE |
ADANI WILMAR PTE. LTD. |
- |
50.00 |
14/07/2017 |
|
INDONESIA |
PT ADANI GLOBAL |
- |
95.00 |
31/03/2016 |
|
|
INDONESIA |
PT ADANI GLOBAL COAL TRADING |
- |
95.00 |
31/03/2016 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
YUKI TANIZAKI |
|
Address |
: |
17-1, NAGAIKE-CHO, 4-CHOME, SHOWA-KU,
NAGOYA, JAPAN. |
|
IC / PP No |
: |
TZ0424513 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
19/05/2015 |
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 (Number of Share) |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
1 |
200003047N |
ADANI GLOBAL PTE. LTD. |
Director |
19/05/2015 |
0.00 |
USD89,152,140.00 |
2016 |
- |
14/07/2017 |
DIRECTOR 2
|
Name Of Subject |
: |
ARUP ROY |
|
Address |
: |
9, NATHAN ROAD, 24-01, REGENCY PARK,
248730, SINGAPORE. |
|
IC / PP No |
: |
S2770037C |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
02/01/2013 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding (Number of Share) |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
1 |
200003047N |
ADANI GLOBAL PTE. LTD. |
Director |
02/01/2013 |
0.00 |
USD89,152,140.00 |
2016 |
- |
14/07/2017 |
DIRECTOR 3
|
Name Of Subject |
: |
PRASANNA SUNDEEP |
|
Address |
: |
78, HOLLAND ROAD, 05-01, DUET, 258873,
SINGAPORE. |
|
IC / PP No |
: |
G3086503R |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
23/03/2016 |
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 (Number of Share) |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
1 |
200003047N |
ADANI GLOBAL PTE. LTD. |
Director |
23/03/2016 |
0.00 |
USD89,152,140.00 |
2016 |
- |
14/07/2017 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
ARUP ROY |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
PRUDENTIAL PUBLIC ACCOUNTING CORPORATION |
|
Auditor' Address |
: |
N/A |
|
|
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
KALIYAPERUMAL S/O K JAYARAM |
|
IC / PP No |
: |
S1230952Z |
|
|
Address |
: |
2, DELTA AVENUE, 20-44, DELTA AVENUE
ESTATE, 161002, SINGAPORE. |
|
|
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
AXIS BANK LIMITED SINGAPORE BRANCH |
|
2) |
Name |
: |
COOPERATIEVE CENTRALE
RAIFFEISEN-BOERENLEENBANK B.A. |
|
3) |
Name |
: |
ICICI BANK LTD |
|
4) |
Name |
: |
INDIAN OVERSEAS BANK |
|
5) |
Name |
: |
KBC BANK N.V. |
|
6) |
Name |
: |
MALAYAN BANKING BHD |
|
7) |
Name |
: |
MIZUHO CORPORATE BANK LTD |
|
8) |
Name |
: |
NATIXIS |
|
9) |
Name |
: |
OVERSEA-CHINESE BANKING CORPORATION LIMITED |
|
10) |
Name |
: |
RAIFFEISEN ZENTRALBANK OESTERREICH
AKTIENGESELLSCHAFT |
|
11) |
Name |
: |
SOCIETE GENERALE |
|
12) |
Name |
: |
STANDARD CHARTERED BANK |
|
13) |
Name |
: |
STATE BANK OF INDIA, SINGAPORE BRANCH |
|
14) |
Name |
: |
THE BANK OF TOKYO-MITSUBISHI UFJ, LTD
(SINGAPORE BRANCH) |
|
15) |
Name |
: |
UCO BANK |
|
16) |
Name |
: |
WESTLB AG |
|
17) |
Name |
: |
FIRST GULF BANK PJSC |
ENCUMBRANCE (S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C200406727 |
30/12/2004 |
N/A |
THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.
SINGAPORE BRANCH |
- |
Unsatisfied |
|
C200507645 |
12/12/2005 |
N/A |
MALAYAN BANKING BERHAD |
- |
Unsatisfied |
|
C200507749 |
15/12/2005 |
N/A |
MALAYAN BANKING BERHAD |
- |
Unsatisfied |
|
C200701800 |
07/03/2007 |
N/A |
MIZUHO BANK, LTD. |
- |
Unsatisfied |
|
C200701802 |
07/03/2007 |
N/A |
MIZUHO BANK, LTD. |
- |
Unsatisfied |
|
C200804646 |
22/05/2008 |
N/A |
STATE BANK OF INDIA |
- |
Unsatisfied |
|
C200806123 |
07/07/2008 |
N/A |
STANDARD CHARTERED BANK |
- |
Unsatisfied |
|
C200806728 |
21/07/2008 |
N/A |
STANDARD CHARTERED BANK |
- |
Unsatisfied |
|
C200807372 |
07/08/2008 |
N/A |
MIZUHO BANK, LTD. |
- |
Unsatisfied |
|
C200808441 |
10/09/2008 |
N/A |
STANDARD CHARTERED BANK |
- |
Unsatisfied |
|
C200907993 |
04/12/2009 |
N/A |
STANDARD CHARTERED BANK |
- |
Unsatisfied |
|
C200907995 |
04/12/2009 |
N/A |
STANDARD CHARTERED BANK |
- |
Unsatisfied |
|
C201009664 |
18/10/2010 |
N/A |
STATE BANK OF INDIA |
- |
Unsatisfied |
|
C201010226 |
29/10/2010 |
N/A |
ICICI BANK LIMITED |
- |
Unsatisfied |
|
C201102341 |
23/02/2011 |
N/A |
AXIS BANK LIMITED, DIFC BRANCH |
- |
Unsatisfied |
|
C201103334 |
17/03/2011 |
N/A |
STATE BANK OF INDIA |
- |
Unsatisfied |
|
C201108747 |
19/07/2011 |
N/A |
INDIAN OVERSEAS BANK |
- |
Unsatisfied |
|
C201108751 |
19/07/2011 |
N/A |
INDIAN OVERSEAS BANK |
- |
Unsatisfied |
|
C201110544 |
23/08/2011 |
N/A |
THE BANK OF NEW YORK MELLON |
- |
Unsatisfied |
|
C201110549 |
23/08/2011 |
N/A |
THE BANK OF NEW YORK MELLON |
- |
Unsatisfied |
|
C201112299 |
03/10/2011 |
N/A |
SOCIETE GENERALE |
- |
Unsatisfied |
|
C201112300 |
03/10/2011 |
N/A |
SOCIETE GENERALE |
- |
Unsatisfied |
|
C201209055 |
08/08/2012 |
N/A |
DBS BANK LTD. |
- |
Unsatisfied |
|
C201209061 |
08/08/2012 |
N/A |
DBS BANK LTD. |
- |
Unsatisfied |
|
C201210492 |
14/09/2012 |
N/A |
STANDARD CHARTERED BANK |
- |
Unsatisfied |
|
C201210759 |
21/09/2012 |
N/A |
STANDARD CHARTERED BANK |
- |
Unsatisfied |
|
C201213508 |
22/11/2012 |
N/A |
EMIRATES NBD PJSC |
- |
Unsatisfied |
|
C201300874 |
17/01/2013 |
N/A |
STANDARD CHARTERED BANK |
- |
Unsatisfied |
|
C201309477 |
11/07/2013 |
N/A |
STANDARD CHARTERED BANK |
- |
Unsatisfied |
|
C201309479 |
11/07/2013 |
N/A |
STANDARD CHARTERED BANK |
- |
Unsatisfied |
|
C201311212 |
16/08/2013 |
N/A |
AXIS BANK LIMITED, DIFC BRANCH |
- |
Unsatisfied |
|
C201314951 |
06/11/2013 |
N/A |
CTBC BANK CO., LTD. |
- |
Unsatisfied |
|
C201314954 |
06/11/2013 |
N/A |
CTBC BANK CO., LTD. |
- |
Unsatisfied |
|
C201403254 |
31/03/2014 |
N/A |
STANDARD CHARTERED BANK |
- |
Unsatisfied |
|
C201405611 |
05/06/2014 |
N/A |
EMIRATES NBD PJSC |
- |
Unsatisfied |
|
C201406431 |
28/06/2014 |
N/A |
ICICI BANK LIMITED, DIFC BRANCH |
- |
Unsatisfied |
|
C201409191 |
27/08/2014 |
N/A |
STANDARD CHARTERED BANK |
- |
Unsatisfied |
|
C201412383 |
07/11/2014 |
N/A |
STANDARD CHARTERED BANK |
- |
Unsatisfied |
|
C201500366 |
09/01/2015 |
N/A |
STANDARD CHARTERED BANK |
- |
Unsatisfied |
|
C201502456 |
23/02/2015 |
N/A |
EMIRATES NBD PJSC |
- |
Unsatisfied |
|
C201502461 |
23/02/2015 |
N/A |
HDFC BANK LIMITED |
- |
Unsatisfied |
|
C201502462 |
23/02/2015 |
N/A |
HDFC BANK LIMITED |
- |
Unsatisfied |
|
C201502576 |
25/02/2015 |
N/A |
EMIRATES NBD PJSC |
- |
Unsatisfied |
|
C201503233 |
13/03/2015 |
N/A |
FIRST GULF BANK PJSC |
- |
Unsatisfied |
|
C201510624 |
17/09/2015 |
N/A |
ICICI BANK LIMITED, DIFC BRANCH |
- |
Unsatisfied |
|
C201514621 |
23/12/2015 |
N/A |
BANK OF INDIA, HONG KONG BRANCH |
- |
Unsatisfied |
|
C201706540 |
03/07/2017 |
N/A |
STANDARD CHARTERED BANK |
- |
Unsatisfied |
|
C201706546 |
03/07/2017 |
N/A |
STANDARD CHARTERED BANK |
- |
Unsatisfied |
LITIGATION CHECK AGAINST SUBJECT
|
* 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 |
: |
NO |
|
||
|
|||||
|
Overseas |
: |
YES |
Percentage |
: |
100% |
|
Export Market |
: |
INDIA |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
COAL |
|
|
Services |
: |
SHIP BUNKERING |
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2017 |
2016 |
2015 |
2014 |
2013 |
||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
45 |
45 |
30 |
25 |
20 |
||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of coal &
& ship bunkering.
The Group is focuses on diversified businesses include resources, logistics,
agribusiness and energy sectors.
The Group manages assets and interests in the power, electric generation,
ports, logistics, real estate, and agriculture sectors.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number Provided By Client |
: |
6562252070 |
|
Current Telephone Number |
: |
65-62252070 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
80, RAFFLES PLACE # 33-20, UOB PLAZA II,
SINGAPORE 048624 |
|
Current Address |
: |
80, RAFFLES PLACE, 33-20, UOB PLAZA 2,
048264, 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 |
[ |
9.80% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
14.16% |
] |
|
|
The fluctuating turnover reflects the fierce
competition among the existing and new market players.The Subject's profit
fell sharply because of the high operating costs incurred. 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 |
[ |
33 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
49 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 |
[ |
1.66 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.66 Times |
] |
|
|
A minimum liquid ratio of 1 should be maintained
by the Subject in order to assure its creditors of its ability to meet short
term obligations and the Subject was in a good liquidity position. Thus, we
believe the Subject is able to meet all its short term obligations as and
when they fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Acceptable |
[ |
3.66 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.71 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 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. 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 |
- |
- |
|
Government Services |
6.00 |
6.50 |
6.30 |
- |
- |
|
Education Services |
0.30 |
3.10 |
5.98 |
- |
- |
|
|
|||||
|
* Estimate / Preliminary |
|||||
|
# Based on Index of Industrial Production
(2015 = 100) |
INDUSTRY ANALYSIS
|
|
INDUSTRY : |
TRADING |
|
The wholesale & retail trade sector expanded
by 6.8% in the third quarter of 2015, higher than the 6.0% growth in the
preceding quarter. Growth was supported by both the wholesale trade and
retail trade segments. The wholesale trade segment was boosted by an increase
in both domestic and foreign wholesale trade sales volume. In particular, the
domestic wholesale trade index rose by 7.4%, following the 8.1 % increase in
the previous quarter. The strong performance in domestic wholesale trade was
due to a surge in the sales of petroleum and petroleum products (14%),
chemicals & chemical products (39%) and telecommunications &
computers (18%). |
|
|
Similarly, the foreign wholesale trade
index rose by 10% in the third quarter of 2015, accelerating from the 6.9%
rise in the previous quarter. Growth was driven by improvements in the sales
of petroleum & petroleum products (21%), metals, timber &
construction materials (10%) and general wholesale trade (8.8%). |
|
|
Overall retail trade sales volume also
recorded resilient growth of 5.6% in the third quarter of 2015, extending the
6.4 % expansion in the second quarter. Growth was supported by a surge in the
volume of motor vehicle sales (44%), which was in turn due to a substantial
increase in the supply of Certificate of Entitlements. Excluding motor
vehicles, retail sales volume increased at a much slower pace of 0.7% over
the same period. The increase in retail sales volume (excluding motor
vehicles) was due to improved non-discretionary goods sales. For instance,
the sales of medical goods & toiletries and department store goods rose
by 8.1% and 3.6% respectively. |
|
|
According to the Retail News Asia, Food and
beverage has overtaken fashion as the primary driver of demand for retail real
estate in Singapore. Despite declining retail sales and consumer spending,
the prime retail sector remained in good shape during the third quarter 2015. |
|
|
OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN
ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
ADANI GLOBAL PTE. LTD. |
|
Financial Year End |
2016-03-31 |
2015-03-31 |
2014-03-31 |
2013-03-31 |
2012-03-31 |
|
Months |
12 |
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 |
3,485,238,954 |
3,648,449,037 |
2,886,156,197 |
2,173,318,063 |
2,609,496,812 |
|
Other Income |
8,516,885 |
18,017,290 |
23,992,228 |
27,564,041 |
29,665,558 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
3,493,755,839 |
3,666,466,327 |
2,910,148,425 |
2,200,882,104 |
2,639,162,370 |
|
Costs of Goods Sold |
(3,347,122,633) |
(3,438,577,612) |
(2,666,492,453) |
(1,976,017,085) |
(2,484,361,385) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
146,633,206 |
227,888,715 |
243,655,972 |
224,865,019 |
154,800,985 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
93,740,921 |
180,680,350 |
196,297,684 |
172,896,145 |
96,849,385 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
93,740,921 |
180,680,350 |
196,297,684 |
172,896,145 |
96,849,385 |
|
Taxation |
(4,588,781) |
(10,168,485) |
(11,200,000) |
(12,254,738) |
(5,425,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
89,152,140 |
170,511,865 |
185,097,684 |
160,641,407 |
91,424,385 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
793,302,234 |
622,790,369 |
437,692,685 |
277,051,278 |
185,626,893 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
793,302,234 |
622,790,369 |
437,692,685 |
277,051,278 |
185,626,893 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
882,454,374 |
793,302,234 |
622,790,369 |
437,692,685 |
277,051,278 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
882,454,374 |
793,302,234 |
622,790,369 |
437,692,685 |
277,051,278 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Letter of credit |
3,941,397 |
2,535,678 |
1,750,914 |
- |
- |
|
Term loan / Borrowing |
5,939,294 |
10,444,557 |
14,268,524 |
19,383,625 |
2,523,719 |
|
Trust receipts |
19,650,821 |
13,364,783 |
10,505,414 |
6,517,263 |
6,812,207 |
|
Others |
5,652,927 |
6,009,491 |
3,444,348 |
6,704,436 |
29,460,991 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
35,184,439 |
32,354,509 |
29,969,200 |
32,605,324 |
38,796,917 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
181,869 |
190,299 |
192,589 |
144,883 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
181,869 |
190,299 |
192,589 |
144,883 |
- |
|
|
============= |
============= |
============= |
============= |
||
|
|
|
|
|
|
|
BALANCE SHEET
|
|
ADANI GLOBAL PTE. LTD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
102,301 |
81,184 |
179,893 |
245,355 |
4,155,419 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Subsidiary companies |
43,736,752 |
43,725,986 |
42,472,783 |
42,472,783 |
32,903,663 |
|
Investment properties |
4,201,226 |
4,281,834 |
4,362,442 |
4,443,050 |
- |
|
Others |
3,800,000 |
3,800,000 |
3,800,000 |
3,800,000 |
3,800,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
51,737,978 |
51,807,820 |
50,635,225 |
50,715,833 |
36,703,663 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
51,840,279 |
51,889,004 |
50,815,118 |
50,961,188 |
40,859,082 |
|
Stocks |
- |
- |
7,366,240 |
2,050,613 |
- |
|
Contract work-in-progress |
15,037,265 |
39,607,943 |
- |
- |
- |
|
Trade debtors |
318,805,314 |
531,952,046 |
361,781,048 |
751,931,017 |
388,031,350 |
|
Other debtors, deposits & prepayments |
236,063,709 |
252,889,331 |
316,441,828 |
398,846,620 |
14,790,812 |
|
Short term deposits |
109,159,415 |
92,482,784 |
74,346,425 |
62,666,388 |
43,768,429 |
|
Short term loans & advances |
- |
- |
- |
- |
333,843,809 |
|
Interest receivable |
- |
- |
- |
5,311,649 |
- |
|
Amount due from holding company |
290,966,647 |
508,570,320 |
401,812,545 |
9,036,503 |
126,602,687 |
|
Amount due from subsidiary companies |
608,212,438 |
382,617,438 |
324,581,983 |
229,105,242 |
261,439,544 |
|
Amount due from related companies |
558,620,986 |
448,044,702 |
351,989,576 |
1,811,655 |
397,772,946 |
|
Cash & bank balances |
10,039,947 |
36,881,364 |
26,668,226 |
10,283,912 |
22,427,523 |
|
Others |
4,155,512 |
- |
- |
7,408,578 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
2,151,061,233 |
2,293,045,928 |
1,864,987,871 |
1,478,452,177 |
1,588,677,100 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
2,202,901,512 |
2,344,934,932 |
1,915,802,989 |
1,529,413,365 |
1,629,536,182 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
450,484,118 |
457,387,577 |
395,339,508 |
165,784,674 |
131,912,410 |
|
Other creditors & accruals |
25,074,961 |
30,661,417 |
6,559,220 |
14,168,330 |
36,660,288 |
|
Short term borrowings/Term loans |
41,191,432 |
90,374,490 |
90,401,225 |
- |
- |
|
Other borrowings |
603,179,555 |
788,192,300 |
491,584,006 |
648,793,295 |
835,479,373 |
|
Deposits from customers |
1,528,599 |
78,104,806 |
1,518,182 |
- |
- |
|
Amounts owing to subsidiary companies |
22,944,471 |
16,264,794 |
14,013,506 |
3,998,631 |
- |
|
Amounts owing to related companies |
141,963,756 |
3,514,711 |
119,973,880 |
- |
2,531,442 |
|
Provision for taxation |
5,898,705 |
10,411,219 |
11,200,000 |
8,939,039 |
5,499,011 |
|
Other liabilities |
- |
7,343,042 |
2,597,462 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
1,292,265,597 |
1,482,254,356 |
1,133,186,989 |
841,683,969 |
1,012,082,524 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
858,795,636 |
810,791,572 |
731,800,882 |
636,768,208 |
576,594,576 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
910,635,915 |
862,680,576 |
782,616,000 |
687,729,396 |
617,453,658 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
27,600,000 |
27,600,000 |
27,600,000 |
27,600,000 |
27,600,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
27,600,000 |
27,600,000 |
27,600,000 |
27,600,000 |
27,600,000 |
|
Retained profit/(loss) carried forward |
882,454,374 |
793,302,234 |
622,790,369 |
437,692,685 |
277,051,278 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
882,454,374 |
793,302,234 |
622,790,369 |
437,692,685 |
277,051,278 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
910,054,374 |
820,902,234 |
650,390,369 |
465,292,685 |
304,651,278 |
|
Other long term borrowings |
581,541 |
41,778,342 |
132,225,631 |
222,436,711 |
312,802,380 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
581,541 |
41,778,342 |
132,225,631 |
222,436,711 |
312,802,380 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
910,635,915 |
862,680,576 |
782,616,000 |
687,729,396 |
617,453,658 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO
|
|
ADANI GLOBAL PTE. LTD. |
|
Cash Ratio |
0.09 |
0.09 |
0.09 |
0.09 |
0.07 |
|
TYPES OF FUNDS |
|||||
|
Cash |
119,199,362 |
129,364,148 |
101,014,651 |
72,950,300 |
66,195,952 |
|
Net Liquid Funds |
119,199,362 |
129,364,148 |
101,014,651 |
72,950,300 |
66,195,952 |
|
Net Liquid Assets |
858,795,636 |
810,791,572 |
724,434,642 |
634,717,595 |
576,594,576 |
|
Net Current Assets/(Liabilities) |
858,795,636 |
810,791,572 |
731,800,882 |
636,768,208 |
576,594,576 |
|
Net Tangible Assets |
910,635,915 |
862,680,576 |
782,616,000 |
687,729,396 |
617,453,658 |
|
Net Monetary Assets |
858,214,095 |
769,013,230 |
592,209,011 |
412,280,884 |
263,792,196 |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
0 |
213,034,859 |
226,266,884 |
205,501,469 |
135,646,302 |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
129,107,229 |
213,225,158 |
226,459,473 |
205,646,352 |
135,646,302 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
644,952,528 |
920,345,132 |
714,210,862 |
871,230,006 |
1,148,281,753 |
|
Total Liabilities |
1,292,847,138 |
1,524,032,698 |
1,265,412,620 |
1,064,120,680 |
1,324,884,904 |
|
Total Assets |
2,202,901,512 |
2,344,934,932 |
1,915,802,989 |
1,529,413,365 |
1,629,536,182 |
|
Net Assets |
910,635,915 |
862,680,576 |
782,616,000 |
687,729,396 |
617,453,658 |
|
Net Assets Backing |
910,054,374 |
820,902,234 |
650,390,369 |
465,292,685 |
304,651,278 |
|
Shareholders' Funds |
910,054,374 |
820,902,234 |
650,390,369 |
465,292,685 |
304,651,278 |
|
Total Share Capital |
27,600,000 |
27,600,000 |
27,600,000 |
27,600,000 |
27,600,000 |
|
Total Reserves |
882,454,374 |
793,302,234 |
622,790,369 |
437,692,685 |
277,051,278 |
|
GROWTH RATIOS (Year on Year) |
|||||
|
Revenue |
(4.47) |
26.41 |
32.80 |
(16.72) |
33.86 |
|
Proft/(Loss) Before Tax |
(48.12) |
(7.96) |
13.54 |
78.52 |
(21.99) |
|
Proft/(Loss) After Tax |
(47.71) |
(7.88) |
15.22 |
75.71 |
(21.27) |
|
Total Assets |
(6.06) |
22.40 |
25.26 |
(6.14) |
35.27 |
|
Total Liabilities |
(15.17) |
20.44 |
18.92 |
(19.68) |
33.64 |
|
LIQUIDITY (Times) |
|||||
|
Liquid Ratio |
1.66 |
1.55 |
1.64 |
1.75 |
1.57 |
|
Current Ratio |
1.66 |
1.55 |
1.65 |
1.76 |
1.57 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
2 |
4 |
1 |
0 |
0 |
|
Debtors Ratio |
33 |
53 |
46 |
126 |
54 |
|
Creditors Ratio |
49 |
49 |
54 |
31 |
19 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.71 |
1.12 |
1.10 |
1.87 |
3.77 |
|
Liabilities Ratio |
1.42 |
1.86 |
1.95 |
2.29 |
4.35 |
|
Times Interest Earned Ratio |
3.66 |
6.58 |
7.55 |
6.30 |
3.50 |
|
Assets Backing Ratio |
32.99 |
31.26 |
28.36 |
24.92 |
22.37 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
2.69 |
4.95 |
6.80 |
7.96 |
3.71 |
|
Net Profit Margin |
2.56 |
4.67 |
6.41 |
7.39 |
3.50 |
|
Return On Net Assets |
14.16 |
24.69 |
28.91 |
29.88 |
21.97 |
|
Return On Capital Employed |
14.16 |
24.69 |
28.91 |
29.88 |
21.97 |
|
Return On Shareholders' Funds/Equity |
9.80 |
20.77 |
28.46 |
34.52 |
30.01 |
|
Dividend Pay Out Ratio (Times) |
0 |
0 |
0 |
0 |
0 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.93 |
|
|
1 |
INR 86.06 |
|
Euro |
1 |
INR 76.39 |
|
SGD |
1 |
INR 47.76 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.