|
|
|
MIRA INFORM REPORT
|
Report No. : |
483365 |
|
Report Date : |
01.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
ARIES FERTILIZERS GROUP PTE. LTD. |
|
|
|
|
Formerly Known As : |
ARIES
FERTILIZERS GROUP PRIVATE LIMITED (02/03/2012)
|
|
|
|
|
Registered Office : |
6, Shenton Way, 10-10, Oue Downtown, 068809 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
06.01.2012 |
|
|
|
|
Com. Reg. No.: |
201200617-G |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The subject is principally
engaged in trading of fertilizers. |
|
|
|
|
No. of Employees : |
22 [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. |
: |
201200617-G |
||||
|
COMPANY NAME |
: |
ARIES FERTILIZERS GROUP PTE.
LTD. |
||||
|
FORMER NAME |
: |
ARIES FERTILIZERS GROUP
PRIVATE LIMITED (02/03/2012) |
||||
|
INCORPORATION DATE |
: |
06/01/2012 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED (LIMITED BY
SHARE) |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
6, SHENTON WAY, 10-10, OUE
DOWNTOWN, 068809, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
6, SHENTON WAY, 10-10, OUE DOWNTOWN
2, 068809, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-65860965 |
||||
|
FAX.NO. |
: |
65-62258678 |
||||
|
WEB SITE |
: |
WWW.ARIESFERTILIZERS.COM |
||||
|
CONTACT PERSON |
: |
BHAMIDIPATINAG BHUSHAN RAO (
MANAGING DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF FERTILIZERS |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
5,000,000.00 ORDINARY SHARE,
OF A VALUE OF USD 5,000,000.00 |
||||
|
SALES |
: |
USD 857,579,642 [2016] |
||||
|
NET WORTH |
: |
USD 17,468,559 [2016] |
||||
|
STAFF STRENGTH |
: |
22 [2017] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
LIMITED |
||||
|
PAYMENT |
: |
NO COMPLAINTS |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
|
PROPOSED CREDIT LIMIT |
: |
USD 611,000 |
||||
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) trading of fertilizers.
Share Capital
History
|
Date |
Issue & Paid Up Capital |
|
23/08/2017 |
USD 5,000,000.00 |
The major shareholder(s) of
the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
KAIFERT HOLDINGS PTE. LTD. |
10, HOE CHIANG ROAD, 06-08,
KEPPEL TOWERS 089315 ,SINGAPORE |
201136416R |
2,000,000.00 |
40.00 |
|
ARIES SINGAPORE INVESTMENTS
PRIVATE LIMITED |
3, SHENTON WAY, 07-09, SHENTON
HOUSE 068805 ,SINGAPORE |
201206928M |
1,499,999.00 |
30.00 |
|
Z-SYNERGY INTERNATIONAL PTE.
LTD. |
10, ANSON ROAD, 26-10,
INTERNATIONAL PLAZA 079903 ,SINGAPORE |
201131735M |
1,000,000.00 |
20.00 |
|
FERTRADE CONSULTANCY PTE.
LTD. |
10, ANSON ROAD, 26-10,
INTERNATIONAL PLAZA 079903 ,SINGAPORE |
201111191C |
500,000.00 |
10.00 |
|
BHAMIDIPATINAG BHUSHAN RAO |
193, MEYER ROAD, 14-08,
AALTO 437981 ,SINGAPORE |
S2617238A |
1.00 |
0.00 |
|
--------------- |
------ |
|||
|
5,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in
other companies (Subsidiaries/Associates) are shown as follow :
Local No |
Country |
Company |
Status |
(%) |
As At |
|
INDIA |
AFG INDIA PRIVATE LIMITED |
- |
100.00 |
31/12/2016 |
|
|
VIRGIN ISLANDS, BRITISH |
NOBLE PRIME GLOBAL LIMITED |
- |
100.00 |
31/12/2016 |
|
|
201533744C |
SINGAPORE |
NUOVO INVESTMENTS PTE. LTD. |
- |
100.00 |
31/12/2016 |
|
201201061N |
SINGAPORE |
VASI SHIPPING PTE. LTD. |
- |
70.00 |
23/08/2017 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
WANG DIFEI |
|
Address |
: |
ROOM 3, 26 FLOOR, BLOCK 2,
28, XIANGSHI ROAD, YUNYAN DISTRICT GUIYANG, GUIZHOU, CHINA. |
|
IC / PP No |
: |
PE0584950 |
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
02/05/2017 |
INTEREST CHECK
|
Interest in companies |
: |
see below |
|
Interest in business |
: |
none in our databank |
|
Former interest |
: |
none in our databank |
INTEREST IN COMPANY
|
No |
Local No |
Company |
Designation |
App Date |
Shareholding (Number of
Share) |
Profit/(loss) After Tax |
Financial Year |
Status |
As At |
|
1 |
201200617G |
ARIES FERTILIZERS GROUP PTE.
LTD. |
Director |
02/05/2017 |
0.00 |
USD911,927.00 |
2016 |
- |
23/08/2017 |
|
2 |
201136416R |
KAIFERT HOLDINGS PTE. LTD. |
Director |
17/03/2017 |
0.00 |
USD328,127.00 |
2015 |
- |
03/07/2017 |
DIRECTOR 2
|
Name Of Subject |
: |
YEUNG YI HUNG |
|
Address |
: |
155, HOUGANG STREET 11, 02-184,
530155, SINGAPORE. |
|
IC / PP No |
: |
S2620770C |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
05/03/2012 |
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 |
201200617G |
ARIES FERTILIZERS GROUP PTE.
LTD. |
Director |
05/03/2012 |
0.00 |
USD911,927.00 |
2016 |
- |
23/08/2017 |
|
2 |
201606104C |
YANGMEI CHEMICAL (SINGAPORE)
PTE. LTD. |
Director |
09/03/2016 |
0.00 |
- |
- |
- |
21/04/2017 |
DIRECTOR 3
|
Name Of Subject |
: |
BHAMIDIPATINAG BHUSHAN RAO |
|
Address |
: |
193, MEYER ROAD, 14-08,
AALTO, 437981, SINGAPORE. |
|
IC / PP No |
: |
S2617238A |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
06/01/2012 |
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 |
201200617G |
ARIES FERTILIZERS GROUP PTE.
LTD. |
Director Shareholder |
06/01/2012 - |
1.00 |
USD911,927.00 |
2016 |
- |
23/08/2017 |
|
2 |
625317A |
CRYSTAL PETROPRODUCT COMPANY
SDN. BHD. |
Director |
10/09/2003 |
0.00 |
- |
- |
Disolved by Registrar |
25/07/2017 |
|
3 |
757933P |
GLOBAL DIGITAL SDN. BHD. |
Director |
27/03/2008 |
0.00 |
MYR(3,791.00) |
2013 |
Disolved by Registrar |
25/07/2017 |
|
4 |
201533744C |
NUOVO INVESTMENTS PTE. LTD. |
Director |
03/09/2015 |
0.00 |
- |
- |
- |
24/08/2016 |
DIRECTOR 4
|
Name Of Subject |
: |
ZHANG ZIPEI |
|
Address |
: |
RM 702, BUILDING 4, SOHO NEW
TOWN, 88, JIANGUO ROAD, BEIJING, 100022, CHINA. |
|
IC / PP No |
: |
G3216711Q |
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
05/03/2012 |
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 |
201200617G |
ARIES FERTILIZERS GROUP PTE.
LTD. |
Director |
05/03/2012 |
0.00 |
USD911,927.00 |
2016 |
- |
23/08/2017 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
BHAMIDIPATINAG BHUSHAN RAO |
|
Position |
: |
MANAGING DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
KPMG LLP |
|
Auditor' Address |
: |
N/A |
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
LIEW MENG LING |
|
IC / PP No |
: |
S2590527Z |
|
|
Address |
: |
33, WEST COAST RISE, 12-23,
MONTEREY PARK CONDOMINIUM, 127476, SINGAPORE. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
BNP PARIBAS |
|
2) |
Name |
: |
BANK OF CHINA LIMITED |
|
3) |
Name |
: |
CITIBANK N.A. |
|
4) |
Name |
: |
SOCIETE GENERALE |
|
5) |
Name |
: |
STANDARD CHARTERED BANK |
ENCUMBRANCE (S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C201203770 |
10/04/2012 |
N/A |
BNP PARIBAS |
- |
Unsatisfied |
|
C201303587 |
07/03/2013 |
N/A |
BANK OF CHINA LIMITED |
- |
Unsatisfied |
|
C201303588 |
07/03/2013 |
N/A |
BANK OF CHINA LIMITED |
- |
Unsatisfied |
|
C201303733 |
11/03/2013 |
N/A |
COOPERATIEVE RABOBANK U.A. |
- |
Unsatisfied |
|
C201402797 |
18/03/2014 |
N/A |
BANK OF CHINA LIMITED |
- |
Unsatisfied |
|
C201402798 |
18/03/2014 |
N/A |
BANK OF CHINA LIMITED |
- |
Unsatisfied |
|
C201406710 |
04/07/2014 |
N/A |
DBS BANK LTD. |
- |
Unsatisfied |
|
C201410961 |
08/10/2014 |
N/A |
CITIBANK N.A. |
- |
Unsatisfied |
|
C201410962 |
08/10/2014 |
N/A |
CITIBANK N.A. |
- |
Unsatisfied |
|
C201512673 |
05/11/2015 |
N/A |
BANK OF CHINA LIMITED |
- |
Unsatisfied |
|
C201603717 |
05/04/2016 |
N/A |
SOCIETE GENERALE |
- |
Unsatisfied |
|
C201603719 |
05/04/2016 |
N/A |
SOCIETE GENERALE |
- |
Unsatisfied |
|
C201612014 |
29/11/2016 |
N/A |
BNP PARIBAS |
- |
Unsatisfied |
|
C201702050 |
01/03/2017 |
N/A |
STANDARD CHARTERED BANK |
- |
Unsatisfied |
|
C201702051 |
01/03/2017 |
N/A |
STANDARD CHARTERED BANK |
- |
Unsatisfied |
|
C201702922 |
30/03/2017 |
N/A |
CREDIT EUROPE BANK N.V. |
- |
Unsatisfied |
|
C201702926 |
30/03/2017 |
N/A |
CREDIT EUROPE BANK N.V. |
- |
Unsatisfied |
LITIGATION CHECK - SUBJECT COMPANY AS A DEFENDANT
|
* A check has been conducted in our databank againt the Subject whether the
subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
PAYMENT RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
YES |
|
Overseas |
: |
YES |
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 |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
FERTILIZERS |
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2017 |
2016 |
2015 |
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
22 |
19 |
19 |
||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of
fertilizers.
The Subject provides services such as:
-Sourcing and Representing Manufacturers, and Servicing Customers
-Shipping and Logistics Services
-Value Added Structured Trade Finance Services
The Subject is one of the trader of farm product raw materials.
CURRENT INVESTIGATION
|
Latest fresh investigations
carried out on the Subject indicated that :
|
Telephone Number Provided By
Client |
: |
6565860965 |
|
Current Telephone Number |
: |
65-65860965 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
6 SHENTON WAY #10-10 QUE
DOWNTOWN 2 SINGAPORE 068809 |
|
Current Address |
: |
6, SHENTON WAY, 10-10, OUE
DOWNTOWN 2, 068809, 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 |
[ |
6.49% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
9.94% |
] |
|
|
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 |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
8 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
12 Days |
] |
|
|
The Subject's stocks were moving
fast thus reducing its holding cost. This had reduced funds being tied up in
stocks. 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 |
[ |
1.26 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.26 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 |
: |
Unfavourable |
[ |
2.37 Times |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
1.20 Times |
] |
|
|
The Subject's interest cover
was low. If its profits fall or when interest rate rises, it may not be
able to meet all its interest payment. The Subject was highly geared, thus it
had a high financial risk. The Subject was dependent on loans to finance its
business needs. In times of economic downturn and / or high interest rate,
the Subject will become less profitable and competitive than other firms in
the same industry, which are lowly geared. This is because the Subject has to
service the interest and to repay the loan, which will erode part of its
profits. The profits will fluctuate depending on the Subject's turnover and
the interest it needs to pay. |
||||||
|
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. If there is a
fall in the Subject's profit or any increase in interest rate, the Subject
may not be able to generate sufficient cash-flow to service its interest. The
Subject's gearing level was high and its going concern will be in doubt if
there is no injection of additional shareholders' funds in times of economic
downturn and / or high interest rates. |
||||||
|
Overall financial condition
of the Subject : LIMITED |
||||||
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. |
|
ARIES FERTILIZERS GROUP 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 |
USD |
USD |
USD |
USD |
USD |
|
TURNOVER |
857,579,642 |
1,192,853,216 |
682,849,804 |
497,356,648 |
344,733,816 |
|
Other Income |
50,716 |
18,625 |
30,719 |
1,625 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
857,630,358 |
1,192,871,841 |
682,880,523 |
497,358,273 |
344,733,816 |
|
Costs of Goods Sold |
(846,165,659) |
(177,646,178) |
(671,984,438) |
(488,941,696) |
(339,600,114) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
11,464,699 |
1,015,225,663 |
10,896,085 |
8,416,577 |
5,133,702 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM
OPERATIONS |
1,112,653 |
6,099,410 |
3,289,554 |
3,288,896 |
2,234,471 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE
TAXATION |
1,112,653 |
6,099,410 |
3,289,554 |
3,288,896 |
2,234,471 |
|
Taxation |
(200,726) |
(700,623) |
(293,076) |
(332,000) |
(350,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
911,927 |
5,398,787 |
2,996,478 |
2,956,896 |
1,884,471 |
|
Minority interests |
220,959 |
(511,477) |
110,856 |
(100,856) |
(171,405) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE
EXTRAORDINARY ITEMS |
1,132,886 |
4,887,310 |
3,107,334 |
2,856,040 |
1,713,066 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) ATTRIBUTABLE
TO SHAREHOLDERS |
1,132,886 |
4,887,310 |
3,107,334 |
2,856,040 |
1,713,066 |
|
RETAINED PROFIT/(LOSS)
BROUGHT FORWARD |
|||||
|
As previously reported |
11,313,750 |
6,926,440 |
4,319,106 |
1,713,066 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
11,313,750 |
6,926,440 |
4,319,106 |
1,713,066 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR
APPROPRIATIONS |
12,446,636 |
11,813,750 |
7,426,440 |
4,569,106 |
1,713,066 |
|
DIVIDENDS - Ordinary (paid
& proposed) |
(500,000) |
(500,000) |
(500,000) |
(250,000) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS)
CARRIED FORWARD |
11,946,636 |
11,313,750 |
6,926,440 |
4,319,106 |
1,713,066 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per
notes to P&L) |
|||||
|
Others |
814,281 |
1,033,913 |
996,974 |
360,690 |
79,832 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
814,281 |
1,033,913 |
996,974 |
360,690 |
79,832 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to
P&L) |
353,619 |
188,645 |
127,725 |
98,998 |
66,152 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
353,619 |
188,645 |
127,725 |
98,998 |
66,152 |
|
|
============= |
============= |
============= |
============= |
============= |
BALANCE SHEET
|
|
ARIES FERTILIZERS GROUP PTE.
LTD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
4,984,724 |
4,382,482 |
1,809,856 |
24,475 |
76,175 |
|
Associated companies |
518,895 |
695,774 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM
INVESTMENTS/OTHER ASSETS |
518,895 |
695,774 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
5,503,619 |
5,078,256 |
1,809,856 |
24,475 |
76,175 |
|
Stocks |
119,716 |
117,013 |
- |
71,212 |
- |
|
Trade debtors |
18,679,293 |
52,739,110 |
11,807,413 |
20,662,155 |
22,673,110 |
|
Other debtors, deposits
& prepayments |
921,995 |
526,570 |
133,947 |
579,422 |
92,630 |
|
Short term deposits |
8,236,392 |
10,034,966 |
9,684,193 |
8,710,508 |
2,390,109 |
|
Loans & advances -
current portion |
20,728,421 |
32,208,875 |
41,600,635 |
21,017,177 |
100,387,311 |
|
Interest receivable |
- |
- |
- |
- |
35 |
|
Cash & bank balances |
17,963,342 |
3,092,883 |
2,597,242 |
2,625,827 |
5,799,047 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
66,649,159 |
98,719,417 |
65,823,430 |
53,666,301 |
131,342,242 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
72,152,778 |
103,797,673 |
67,633,286 |
53,690,776 |
131,418,417 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
26,704,002 |
43,001,706 |
12,066,250 |
19,974,302 |
23,456,736 |
|
Other creditors & accruals |
4,493,459 |
16,152 |
5,945 |
803,307 |
520,724 |
|
Short term borrowings/Term
loans |
20,033,620 |
38,748,410 |
41,881,927 |
17,476,978 |
- |
|
Other borrowings |
42,954 |
39,483 |
- |
- |
- |
|
Deposits from customers |
1,258,623 |
1,367,750 |
- |
- |
- |
|
Amounts owing to subsidiary
companies |
- |
834,749 |
- |
- |
- |
|
Provision for taxation |
235,000 |
753,303 |
385,000 |
384,969 |
350,000 |
|
Other liabilities |
- |
- |
- |
5,309,853 |
100,056,486 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
52,767,658 |
84,761,553 |
54,339,122 |
43,949,409 |
124,383,946 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT
ASSETS/(LIABILITIES) |
13,881,501 |
13,957,864 |
11,484,308 |
9,716,892 |
6,958,296 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
19,385,120 |
19,036,120 |
13,294,164 |
9,741,367 |
7,034,471 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
5,000,000 |
5,000,000 |
5,000,000 |
5,000,000 |
5,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
5,000,000 |
5,000,000 |
5,000,000 |
5,000,000 |
5,000,000 |
|
Retained profit/(loss)
carried forward |
11,946,636 |
11,313,750 |
6,926,440 |
4,319,106 |
1,713,066 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
11,946,636 |
11,313,750 |
6,926,440 |
4,319,106 |
1,713,066 |
|
MINORITY INTEREST |
521,923 |
742,882 |
311,405 |
422,261 |
321,405 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
17,468,559 |
17,056,632 |
12,237,845 |
9,741,367 |
7,034,471 |
|
Long term loans |
881,561 |
944,488 |
1,056,319 |
- |
- |
|
Others |
1,035,000 |
1,035,000 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
1,916,561 |
1,979,488 |
1,056,319 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
19,385,120 |
19,036,120 |
13,294,164 |
9,741,367 |
7,034,471 |
|
|
============= |
============= |
============= |
============= |
============= |
|
FINANCIAL RATIO
|
|
ARIES FERTILIZERS GROUP PTE.
LTD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
26,199,734 |
13,127,849 |
12,281,435 |
11,336,335 |
8,189,156 |
|
Net Liquid Funds |
26,199,734 |
13,127,849 |
12,281,435 |
11,336,335 |
8,189,156 |
|
Net Liquid Assets |
13,761,785 |
13,840,851 |
11,484,308 |
9,645,680 |
6,958,296 |
|
Net Current
Assets/(Liabilities) |
13,881,501 |
13,957,864 |
11,484,308 |
9,716,892 |
6,958,296 |
|
Net Tangible Assets |
19,385,120 |
19,036,120 |
13,294,164 |
9,741,367 |
7,034,471 |
|
Net Monetary Assets |
11,845,224 |
11,861,363 |
10,427,989 |
9,645,680 |
6,958,296 |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest
& Tax (EBIT) |
0 |
7,133,323 |
4,286,528 |
3,649,586 |
2,314,303 |
|
Earnings Before Interest, Taxes,
Depreciation And Amortization (EBITDA) |
2,280,553 |
7,321,968 |
4,414,253 |
3,748,584 |
2,380,455 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
20,958,135 |
39,732,381 |
42,938,246 |
17,476,978 |
0 |
|
Total Liabilities |
54,684,219 |
86,741,041 |
55,395,441 |
43,949,409 |
124,383,946 |
|
Total Assets |
72,152,778 |
103,797,673 |
67,633,286 |
53,690,776 |
131,418,417 |
|
Net Assets |
19,385,120 |
19,036,120 |
13,294,164 |
9,741,367 |
7,034,471 |
|
Net Assets Backing |
17,468,559 |
17,056,632 |
12,237,845 |
9,741,367 |
7,034,471 |
|
Shareholders' Funds |
17,468,559 |
17,056,632 |
12,237,845 |
9,741,367 |
7,034,471 |
|
Total Share Capital |
5,000,000 |
5,000,000 |
5,000,000 |
5,000,000 |
5,000,000 |
|
Total Reserves |
11,946,636 |
11,313,750 |
6,926,440 |
4,319,106 |
1,713,066 |
|
GROWTH RATIOS (Year on Year) |
|||||
|
Revenue |
(28.11) |
74.69 |
37.30 |
44.27 |
- |
|
Proft/(Loss) Before Tax |
(81.76) |
85.42 |
0.02 |
47.19 |
- |
|
Proft/(Loss) After Tax |
(83.11) |
80.17 |
1.34 |
56.91 |
- |
|
Total Assets |
(30.49) |
53.47 |
25.97 |
(59.15) |
- |
|
Total Liabilities |
(36.96) |
56.59 |
26.04 |
(64.67) |
- |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.50 |
0.15 |
0.23 |
0.26 |
0.07 |
|
Liquid Ratio |
1.26 |
1.16 |
1.21 |
1.22 |
1.06 |
|
Current Ratio |
1.26 |
1.16 |
1.21 |
1.22 |
1.06 |
|
WORKING CAPITAL CONTROL
(Days) |
|||||
|
Stock Ratio |
0 |
0 |
0 |
0 |
0 |
|
Debtors Ratio |
8 |
16 |
6 |
15 |
24 |
|
Creditors Ratio |
12 |
88 |
7 |
15 |
25 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
1.20 |
2.33 |
3.51 |
1.79 |
0 |
|
Liabilities Ratio |
3.13 |
5.09 |
4.53 |
4.51 |
17.68 |
|
Times Interest Earned Ratio |
2.37 |
6.90 |
4.30 |
10.12 |
28.99 |
|
Assets Backing Ratio |
3.88 |
3.81 |
2.66 |
1.95 |
1.41 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
0.13 |
0.51 |
0.48 |
0.66 |
0.65 |
|
Net Profit Margin |
0.13 |
0.41 |
0.46 |
0.57 |
0.50 |
|
Return On Net Assets |
9.94 |
37.47 |
32.24 |
37.46 |
32.90 |
|
Return On Capital Employed |
9.68 |
36.07 |
31.51 |
35.91 |
31.46 |
|
Return On Shareholders'
Funds/Equity |
6.49 |
28.65 |
25.39 |
29.32 |
24.35 |
|
Dividend Pay Out Ratio
(Times) |
0.44 |
0.10 |
0.16 |
0.09 |
0 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.93 |
|
|
1 |
INR 86.07 |
|
Euro |
1 |
INR 76.39 |
|
SGD |
1 |
INR 47.72 |
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.