|
|
|
MIRA INFORM REPORT
|
Report No. : |
483876 |
|
Report Date : |
04.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
CONTINENT PROJECTS TECHNOLOGIES PTE LTD |
|
|
|
|
Registered Office : |
30, Shaw Road, 04-06,
Roche Building, 367957 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
30.09.2015 |
|
|
|
|
Date of Incorporation : |
02.08.2000 |
|
|
|
|
Com. Reg. No.: |
200006767K |
|
|
|
|
Legal Form : |
Private Limited
(Limited By Share) |
|
|
|
|
Line of Business : |
The Subject is principally engaged in trading of
marine engine & engineering design and consultancy services supporting
mining, oil and gas extraction and offshore exploration activities. |
|
|
|
|
No. of Employees : |
Not available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Exist |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
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. |
: |
200006767K |
||||
|
COMPANY
NAME |
: |
CONTINENT
PROJECTS TECHNOLOGIES PTE LTD |
||||
|
FORMER
NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
02/08/2000 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
PRIVATE
LIMITED (LIMITED BY SHARE) |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
30,
SHAW ROAD, 04-06, ROCHE BUILDING, 367957, SINGAPORE. |
||||
|
BUSINESS
ADDRESS |
: |
30,
SHAW ROAD, 04-06, ROCHE BUILDING,, 367957, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-62847828 |
||||
|
FAX.NO. |
: |
65-62847815 |
||||
|
EMAIL |
: |
INFO@CONT-TECH.COM.SG |
||||
|
WEB
SITE |
: |
WWW.CONT-TECH.COM |
||||
|
CONTACT
PERSON |
: |
ABBURU
VENKATA ANANDA BABU ( DIRECTOR ) |
||||
|
PRINCIPAL
ACTIVITY |
: |
TRADING
OF MARINE ENGINE & ENGINEERING DESIGN AND CONSULTANCY SERVICES SUPPORTING
MINING, OIL AND GAS EXTRACTION AND OFFSHORE EXPLORATION ACTIVITIES |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
2,000,000.00
ORDINARY SHARE, OF A VALUE OF SGD 2,000,000.00 |
||||
|
SALES |
: |
USD
25,943,792 [2015] |
||||
|
NET
WORTH |
: |
USD
11,453,241 [2015] |
||||
|
STAFF
STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
TRACED |
||||
|
FINANCIAL
CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
NO
COMPLAINTS |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL
RISK |
: |
LOW |
||||
|
CURRENCY
EXPOSURE |
: |
MODERATE |
||||
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY
OUTLOOK |
: |
AVERAGE
GROWTH |
||||
HISTORY / BACKGROUND
|
The Subject is a private limited company and is allowed
to have a minimum of one and a maximum of forty-nine shareholders. As a private
limited company, the Subject must have at least two directors. A private
limited company is a separate legal entity from its shareholders. As a separate
legal entity, the Subject is capable of owning assets, entering into contracts,
sue or be sued by other companies. The liabilities of the shareholders are to
the extent of the equity they have taken up and the creditors cannot claim on
shareholders' personal assets even if the Subject is insolvent. The Subject is
governed by the Companies Act and the company must file its annual returns,
together with its financial statements with the Registrar of Companies.
The Subject is principally engaged in the (as a /
as an) trading of marine engine & engineering design and consultancy
services supporting mining, oil and gas extraction and offshore exploration
activities.
The
immediate holding company of the Subject is PACIFIC AND ATLANTIC TRADING PTE.
LTD., a company incorporated in SINGAPORE.
The
ultimate holding company of the Subject is PACIFIC AND ATLANTIC TRADING PTE
LTD, a company incorporated in SINGAPORE.
Share Capital History
|
Date |
Issue
& Paid Up Capital |
|
03/01/2018 |
SGD
2,000,000.00 |
The major
shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
PACIFIC
AND ATLANTIC TRADING PTE. LTD. |
30,
SHAW ROAD, 04-06, ROCHE BUILDING 367957 ,SINGAPORE |
201004007E |
2,000,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
2,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also
Director
DIRECTORS
|
DIRECTOR 1
|
Name Of
Subject |
: |
ABBURU
VENKATA ANANDA BABU |
|
Address |
: |
52, STRATHMORE
AVENUE, 09-237, 141052, SINGAPORE. |
|
IC / PP
No |
: |
S7571485H |
|
Nationality |
: |
SINGAPOREAN |
|
Date of
Appointment |
: |
21/10/2010 |
INTEREST CHECK
|
Interest
in companies |
: |
see below |
|
Interest
in business |
: |
none in
our databank |
|
Former
interest |
: |
none in
our databank |
INTEREST
IN COMPANY
|
No |
Local
No |
Company |
Designation |
App
Date |
Shareholding |
Profit/(loss)
After Tax |
Financial
Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
200006767K |
CONTINENT
PROJECTS TECHNOLOGIES PTE LTD |
Director |
21/10/2010 |
0.00 |
- |
USD1,445,590.00 |
2015 |
- |
03/01/2018 |
MANAGEMENT
|
|
1) |
Name of
Subject |
: |
ABBURU
VENKATA ANANDA BABU |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
NATARAJAN
& SWAMINATHAN |
|
Auditor'
Address |
: |
N/A |
COMPANY SECRETARIES
|
|
1) |
Company
Secretary |
: |
VANGAL
RANGARAJAN RANGANATHAN |
|
IC / PP
No |
: |
S2662860A |
|
|
Address |
: |
207,
SERANGOON CENTRAL, 11-198, 550207, SINGAPORE. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
DBS
BANK LTD |
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.
|
LEGAL ACTION |
|
||||||||||||
|
|||||||||||||
|
Status |
: |
PENDING |
|
||||||||||
|
Code No |
: |
99 |
Case No |
: |
8864 |
||||||||
|
Year |
: |
2017 |
Place |
: |
SINGAPORE |
||||||||
|
Type |
: |
MAGISTRATE
COURT |
|||||||||||
|
Date
Filed |
: |
25/05/2017 |
|||||||||||
|
Solicitor |
: |
VENGADESH
S/O KUMARAVELU |
|||||||||||
|
Solicitor
Ref |
: |
KK.PI.16494.2016.JD |
|||||||||||
|
Solicitor
Firm |
: |
K
KRISHNA & PARTNERS |
|||||||||||
|
Plaintiff |
: |
CHIN
KOO CHEE |
|||||||||||
|
DEFENDANTS |
: |
|
|||||||||||
|
Hearing
Date |
: |
N/A |
|||||||||||
|
Amount
Claimed |
: |
9007 |
|||||||||||
|
Nature
of Claim |
: |
SGD |
|||||||||||
|
Remark |
: |
NEGLIGENCE |
|||||||||||
|
No
winding up petition was found in our databank |
||
|
|
||
PAYMENT RECORD
|
|
|||||
|
SOURCES
OF RAW MATERIALS: |
|
||||
|
Local |
: |
YES |
Percentage |
: |
30% |
|
Overseas |
: |
YES |
Percentage |
: |
70% |
|
OVERALL
PAYMENT HABIT |
||||||||||||||
|
Prompt
0-30 Days |
[ |
] |
Good
31-60 Days |
[ |
] |
Average
61-90 Days |
[ |
X |
] |
|||||
|
Fair
91-120 Days |
[ |
] |
Poor
>120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic
Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export
Market |
: |
WORLDWIDE |
|||
|
Credit
Term |
: |
30 - 60
DAYS |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods
Traded |
: |
ENGENEERING
EQUIPMENT, MARINE ENQINES |
|
|
Services |
: |
ENGENEERING
SERVICE |
|
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) trading of marine
engine & engineering design and consultancy services supporting mining, oil
and gas extraction and offshore exploration activities.
The Group principal activities are providing technical/engineering and design
services, equipment & spare parts supply for various industries on turn-key
basis, supplying the equipments and related components, industrial heavy
equipment, electrical machineries like sub-stations, transformers, cables to
various projects.
The Subject provides engineering consultancy services and supplying industrial
& engineering equipments to various oil & gas companies (both onshore
& offshore), shipyards, power projects, other engineering industries
located in various countries.
Products dealings:
* chemical equipments
* energy
* oil and natural gas
Services:
* offshore drilling services
* onshore drilling services
* offshore shipping services
The projects:
* marine & offshore complex
* project management, engineering and design
* power plants supply, engineering & installation
* waste management projects
Industries served:
* oil & gas companies (both onshore & offshore)
* shipyards
* power projects
* other engineering industries located in various countries
CURRENT INVESTIGATION
|
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
6562847828 |
|
Current
Telephone Number |
: |
65-62847828 |
|
Match |
: |
YES |
|
Address
Provided by Client |
: |
#04-06,
30 SHAW ROAD 367957 |
|
Current
Address |
: |
30,
SHAW ROAD, 04-06, ROCHE BUILDING,, 367957, SINGAPORE. |
|
Match |
: |
NO |
|
|
||
Other
Investigations
We contacted one of the Subject staff and she provided some information
regarding to the Subject.
The address provided is incomplete.
She refused to disclose the Subject's number of employees.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
2008 -
2015 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
2008 -
2015 |
] |
|
|
Return
on Shareholder Funds |
: |
Acceptable |
[ |
12.62% |
] |
|
|
Return
on Net Assets |
: |
Acceptable |
[ |
17.96% |
] |
|
|
The
continuous fall in turnover could be due to the lower demand for the Subject's
products / services.The Subject's management have been efficient in
controlling its operating costs. The Subject's management had generated
acceptable return for its shareholders using its assets. |
||||||
|
Working
Capital Control |
||||||
|
Stock
Ratio |
: |
Favourable |
[ |
23 Days |
] |
|
|
Debtor
Ratio |
: |
Unfavourable |
[ |
87 Days |
] |
|
|
Creditors
Ratio |
: |
Unfavourable |
[ |
317
Days |
] |
|
|
The Subject's
stocks were moving fast thus reducing its holding cost. This had reduced
funds being tied up in stocks. The Subject's debtors ratio was high. The
Subject should tighten its credit control and improve its collection period.
The unfavourable creditors' ratio could be due to the Subject taking
advantage of the credit granted by its suppliers. However this may affect the
goodwill between the Subject and its suppliers and the Subject may
inadvertently have to pay more for its future supplies. |
||||||
|
Liquidity |
||||||
|
Liquid
Ratio |
: |
Acceptable |
[ |
0.90
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
0.92
Times |
] |
|
|
The
Subject's liquid ratio was slightly low. This could indicate that the Subject's
working capital was slightly deficient. The Subject will have to improve its
liquidity position either by obtaining short term financing or increase its
paid up capital so that it can meet all its short term obligations as and
when they fall due. |
||||||
|
Solvency |
||||||
|
Interest
Cover |
: |
Favourable |
[ |
492.06
Times |
] |
|
|
Gearing
Ratio |
: |
Favourable |
[ |
0.01
Times |
] |
|
|
The interest
cover showed that the Subject was able to service the interest. The
favourable interest cover could indicate that the Subject was making enough
profit to pay for the interest accrued. 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 : |
||||||
|
Due to
the efficient control of its operating costs, the Subject was able to remain
profitable despite lower turnover achieved during the year. The Subject's liquidity
was at an acceptable range. If the Subject is able to obtain further short
term financing, it should be able to meet all its short term obligations.
With the favourable interest cover, the Subject could be able to service all
the accrued interest without facing any difficulties. 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 : FAIR |
||||||
|
|
||||||
SINGAPORE ECONOMIC /
INDUSTRY OUTLOOK
|
|
Major
Economic Indicators : |
2012 |
2013 |
2014 |
2015 |
2016* |
|
|
|||||
|
Population
(Million) |
5.31 |
5.40 |
5.47 |
5.54 |
5.63 |
|
Gross
Domestic Products ( % ) |
1.3 |
3.7 |
(3.5) |
3.7 |
4.8 |
|
Consumer
Price Index |
4.6 |
2.4 |
2.4 |
(0.5) |
(0.7) |
|
Total
Imports (Million) |
474,554.0 |
466,762.0 |
463,779.1 |
407,767.9 |
398,372.0 |
|
Total
Exports (Million) |
510,329.0 |
513,391.0 |
518,922.7 |
476,285.4 |
468,552.0 |
|
|
|||||
|
Unemployment
Rate (%) |
2.0 |
1.9 |
1.9 |
1.9 |
2.1 |
|
Tourist
Arrival (Million) |
14.49 |
15.46 |
15.01 |
15.23 |
16.28 |
|
Hotel
Occupancy Rate (%) |
86.4 |
86.3 |
85.5 |
85.0 |
- |
|
Cellular
Phone Subscriber (Million) |
1.52 |
1.97 |
1.98 |
1.99 |
- |
|
|
|||||
|
Registration
of New Companies (No.) |
31,892 |
37,288 |
41,589 |
34,243 |
35,528 |
|
Registration
of New Companies (%) |
(1.3) |
9.8 |
11.5 |
(17.7) |
3.8 |
|
Liquidation
of Companies (No.) |
17,218 |
17,369 |
18,767 |
21,384 |
- |
|
Liquidation
of Companies (%) |
9.4 |
(5.3) |
8.0 |
13.9 |
- |
|
|
|||||
|
Registration
of New Businesses (No.) |
24,788 |
22,893 |
35,773 |
28,480 |
33,326 |
|
Registration
of New Businesses (%) |
5.51 |
1.70 |
56.30 |
(20.39) |
17.02 |
|
Liquidation
of Businesses (No.) |
22,489 |
22,598 |
22,098 |
26,116 |
- |
|
Liquidation
of Businesses (%) |
(2.2) |
0.5 |
(2.2) |
18.2 |
- |
|
|
|||||
|
Bankruptcy
Orders (No.) |
1,748 |
1,992 |
1,757 |
1,776 |
- |
|
Bankruptcy
Orders (%) |
14.5 |
14.0 |
(11.8) |
1.0 |
- |
|
Bankruptcy
Discharges (No.) |
1,881 |
2,584 |
3,546 |
3,499 |
- |
|
Bankruptcy
Discharges (%) |
35.2 |
37.4 |
37.2 |
(1.3) |
- |
|
|
|||||
|
INDUSTRIES
( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production
of Principal Crops |
5.16 |
1.78 |
4.29 |
3.04 |
- |
|
Fish
Supply & Wholesale |
(0.5) |
(3.8) |
(8.6) |
(8.5) |
(9.9) |
|
|
|||||
|
Manufacturing
# |
|||||
|
Food,
Beverages & Tobacco |
97.9 |
97.9 |
99.4 |
100.0 |
103.7 |
|
Textiles |
140.1 |
119.5 |
102.7 |
100.0 |
93.3 |
|
Wearing
Apparel |
395.4 |
334.1 |
212.6 |
100.0 |
80.3 |
|
Leather
Products & Footwear |
109.5 |
122.0 |
106.5 |
100.0 |
93.2 |
|
Wood
& Wood Products |
93.3 |
103.0 |
107.2 |
100.0 |
90.5 |
|
Paper
& Paper Products |
98.5 |
104.4 |
104.5 |
100.0 |
99.7 |
|
Printing
& Media |
122.8 |
113.8 |
105.968
|
100.0 |
86.9 |
|
Crude
Oil Refineries |
107.1 |
100.7 |
92.2 |
100.0 |
100.5 |
|
Chemical
& Chemical Products |
85.3 |
88.4 |
96.7 |
100.0 |
97.6 |
|
Pharmaceutical
Products |
103.8 |
101.421
|
109.4 |
100.0 |
115.9 |
|
Rubber
& Plastic Products |
113.5 |
109.497
|
109.2 |
100.0 |
87.9 |
|
Non-metallic
Mineral |
108.8 |
107.4 |
90.759 |
100.0 |
93.6 |
|
Basic
Metals |
91.5 |
77.2 |
99.3 |
100.0 |
113.1 |
|
Fabricated
Metal Products |
107.314
|
107.5 |
107.757
|
100.0 |
91.7 |
|
Machinery
& Equipment |
107.3 |
109.1 |
118.2 |
100.0 |
79.3 |
|
Electrical
Machinery |
80.102 |
87.4 |
97.871 |
100.0 |
99.3 |
|
Electronic
Components |
100.7 |
105.0 |
105.6 |
100.0 |
106.3 |
|
Transport
Equipment |
109.9 |
111.1 |
106.68 |
100.0 |
98.7 |
|
|
|||||
|
Construction |
28.70 |
25.40 |
22.00 |
- |
- |
|
Real
Estate |
31.9 |
88.5 |
145.1 |
- |
- |
|
|
|||||
|
Services |
|||||
|
Electricity,
Gas & Water |
6.30 |
6.70 |
6.50 |
- |
- |
|
Transport,
Storage & Communication |
5.30 |
9.80 |
14.20 |
- |
- |
|
Finance
& Insurance |
0.50 |
3.30 |
6.00 |
- |
7.40 |
|
Government
Services |
6.00 |
6.50 |
6.30 |
- |
- |
|
Education
Services |
0.30 |
3.10 |
5.98 |
- |
2.40 |
|
|
|||||
|
*
Estimate / Preliminary |
|||||
|
# Based
on Index of Industrial Production (2015 = 100) |
INDUSTRY ANALYSIS
|
|
INDUSTRY
: |
TRADING |
|
The
wholesale & retail trade sector expanded by 6.8% in the third quarter of
2015, higher than the 6.0% growth in the preceding quarter. Growth was
supported by both the wholesale trade and retail trade segments. The
wholesale trade segment was boosted by an increase in both domestic and
foreign wholesale trade sales volume. In particular, the domestic wholesale
trade index rose by 7.4%, following the 8.1 % increase in the previous
quarter. The strong performance in domestic wholesale trade was due to a
surge in the sales of petroleum and petroleum products (14%), chemicals &
chemical products (39%) and telecommunications & computers (18%). |
|
|
Similarly,
the foreign wholesale trade index rose by 10% in the third quarter of 2015,
accelerating from the 6.9% rise in the previous quarter. Growth was driven by
improvements in the sales of petroleum & petroleum products (21%),
metals, timber & construction materials (10%) and general wholesale trade
(8.8%). |
|
|
Overall
retail trade sales volume also recorded resilient growth of 5.6% in the third
quarter of 2015, extending the 6.4 % expansion in the second quarter. Growth
was supported by a surge in the volume of motor vehicle sales (44%), which
was in turn due to a substantial increase in the supply of Certificate of
Entitlements. Excluding motor vehicles, retail sales volume increased at a
much slower pace of 0.7% over the same period. The increase in retail sales
volume (excluding motor vehicles) was due to improved non-discretionary goods
sales. For instance, the sales of medical goods & toiletries and
department store goods rose by 8.1% and 3.6% respectively. |
|
|
According
to the Retail News Asia, Food and beverage has overtaken fashion as the
primary driver of demand for retail real estate in Singapore. Despite
declining retail sales and consumer spending, the prime retail sector
remained in good shape during the third quarter 2015. |
|
|
OVERALL
INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
CREDIT RISK EVALUATION &
RECOMMENDATION
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
CONTINENT
PROJECTS TECHNOLOGIES PTE LTD |
|
Financial
Year End |
2015-09-30 |
2014-09-30 |
|
Months |
12 |
12 |
|
Consolidated
Account |
Company |
Company |
|
Audited
Account |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial
Type |
FULL |
FULL |
|
Currency |
USD |
USD |
|
TURNOVER |
25,943,792 |
34,102,161 |
|
Other
Income |
293,649 |
323,489 |
|
---------------- |
---------------- |
|
|
Total
Turnover |
26,237,441 |
34,425,650 |
|
Costs
of Goods Sold |
(21,849,900) |
(30,336,723) |
|
---------------- |
---------------- |
|
|
Gross
Profit |
4,387,541 |
4,088,927 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
2,067,372 |
1,814,730 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
2,067,372 |
1,814,730 |
|
Taxation |
(621,782) |
(579,359) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
1,445,590 |
1,235,371 |
|
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As
previously reported |
8,417,318 |
7,181,947 |
|
---------------- |
---------------- |
|
|
As
restated |
8,417,318 |
7,181,947 |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE
FOR APPROPRIATIONS |
9,862,908 |
8,417,318 |
|
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
9,862,908 |
8,417,318 |
|
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
||
|
Lease
interest |
4,210 |
4,823 |
|
---------------- |
---------------- |
|
|
4,210 |
4,823 |
|
|
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
351,128 |
279,622 |
|
---------------- |
---------------- |
|
|
Total Amortization
And Depreciation |
351,128 |
279,622 |
|
============= |
============= |
|
|
|
|
|
BALANCE SHEET
|
|
CONTINENT
PROJECTS TECHNOLOGIES PTE LTD |
|
ASSETS
EMPLOYED: |
||
|
FIXED
ASSETS |
1,902,323 |
2,218,358 |
|
Associated
companies |
11,821,377 |
11,821,377 |
|
---------------- |
---------------- |
|
|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
11,821,377 |
11,821,377 |
|
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
13,723,700 |
14,039,735 |
|
Stocks |
473,546 |
695,524 |
|
Contract
work-in-progress |
1,150,280 |
2,906,381 |
|
Trade
debtors |
6,166,783 |
6,256,875 |
|
Other
debtors, deposits & prepayments |
2,197,252 |
2,049,423 |
|
Short
term deposits |
4,227,814 |
6,636,674 |
|
Amount due
from related companies |
1,241,690 |
- |
|
Amount
due from associated companies |
7,482,785 |
8,247,604 |
|
Cash
& bank balances |
2,190,075 |
839,768 |
|
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
25,130,225 |
27,632,249 |
|
---------------- |
---------------- |
|
|
TOTAL
ASSET |
38,853,925 |
41,671,984 |
|
============= |
============= |
|
|
CURRENT
LIABILITIES |
||
|
Trade
creditors |
18,994,586 |
24,195,211 |
|
Other
creditors & accruals |
2,251,404 |
1,427,554 |
|
Deposits
from customers |
149,416 |
148,755 |
|
Amounts
owing to holding company |
5,366,865 |
5,366,865 |
|
Amounts
owing to related companies |
73,427 |
- |
|
Provision
for taxation |
442,509 |
372,206 |
|
Lease
payables |
39,723 |
37,648 |
|
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
27,317,930 |
31,548,239 |
|
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
(2,187,705) |
(3,915,990) |
|
---------------- |
---------------- |
|
|
TOTAL NET
ASSETS |
11,535,995 |
10,123,745 |
|
============= |
============= |
|
|
SHARE
CAPITAL |
||
|
Ordinary
share capital |
1,590,333 |
1,590,333 |
|
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
1,590,333 |
1,590,333 |
|
Retained
profit/(loss) carried forward |
9,862,908 |
8,417,318 |
|
Others |
0 |
0 |
|
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
9,862,908 |
8,417,318 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
11,453,241 |
10,007,651 |
|
Lease
obligations |
82,754 |
116,094 |
|
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
82,754 |
116,094 |
|
---------------- |
---------------- |
|
|
11,535,995 |
10,123,745 |
|
|
============= |
============= |
|
|
|
|
|
FINANCIAL RATIO
|
|
CONTINENT
PROJECTS TECHNOLOGIES PTE LTD |
|
TYPES
OF FUNDS |
||
|
Cash |
6,417,889 |
7,476,442 |
|
Net
Liquid Funds |
6,417,889 |
7,476,442 |
|
Net
Liquid Assets |
(2,661,251) |
(4,611,514) |
|
Net Current
Assets/(Liabilities) |
(2,187,705) |
(3,915,990) |
|
Net
Tangible Assets |
11,535,995 |
10,123,745 |
|
Net
Monetary Assets |
(2,744,005) |
(4,727,608) |
|
PROFIT
& LOSS ITEMS |
||
|
Earnings
Before Interest & Tax (EBIT) |
2,071,582 |
1,819,553 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
2,422,710 |
2,099,175 |
|
BALANCE
SHEET ITEMS |
||
|
Total
Borrowings |
82,754 |
116,094 |
|
Total
Liabilities |
27,400,684 |
31,664,333 |
|
Total
Assets |
38,853,925 |
41,671,984 |
|
Net
Assets |
11,535,995 |
10,123,745 |
|
Net
Assets Backing |
11,453,241 |
10,007,651 |
|
Shareholders'
Funds |
11,453,241 |
10,007,651 |
|
Total
Share Capital |
1,590,333 |
1,590,333 |
|
Total
Reserves |
9,862,908 |
8,417,318 |
|
GROWTH
RATIOS (Year on Year) |
||
|
Revenue |
(23.92) |
(43.00) |
|
Proft/(Loss)
Before Tax |
13.92 |
(38.95) |
|
Proft/(Loss)
After Tax |
17.02 |
(51.96) |
|
Total
Assets |
(33.75) |
(30.34) |
|
Total
Liabilities |
(38.51) |
(35.65) |
|
LIQUIDITY
(Times) |
||
|
Cash
Ratio |
0.23 |
0.24 |
|
Liquid
Ratio |
0.90 |
0.85 |
|
Current
Ratio |
0.92 |
0.88 |
|
WORKING
CAPITAL CONTROL (Days) |
||
|
Stock
Ratio |
23 |
39 |
|
Debtors
Ratio |
87 |
67 |
|
Creditors
Ratio |
317 |
291 |
|
SOLVENCY
RATIOS (Times) |
||
|
Gearing
Ratio |
0.01 |
0.01 |
|
Liabilities
Ratio |
2.39 |
3.16 |
|
Times
Interest Earned Ratio |
492.06 |
377.27 |
|
Assets
Backing Ratio |
7.25 |
6.37 |
|
PERFORMANCE
RATIO (%) |
||
|
Operating
Profit Margin |
7.97 |
5.32 |
|
Net
Profit Margin |
5.57 |
3.62 |
|
Return
On Net Assets |
17.96 |
17.97 |
|
Return
On Capital Employed |
17.96 |
17.97 |
|
Return
On Shareholders' Funds/Equity |
12.62 |
12.34 |
|
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 63.48 |
|
|
1 |
INR 86.41 |
|
Euro |
1 |
INR 76.54 |
|
SGD |
1 |
INR 47.71 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
SYL |
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.