|
|
|
MIRA INFORM REPORT
|
Report No. : |
483424 |
|
Report Date : |
04.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
DYNIX PTE. LTD |
|
|
|
|
Registered Office : |
112, Robinson Road, 11-01, Robinson 112, 068902, Singapore |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
15.05.2008 |
|
|
|
|
Com. Reg. No.: |
200809629E |
|
|
|
|
Legal Form : |
Private Limited (Limited By Share) |
|
|
|
|
Line of Business : |
The Subject is engaged in the trading of chemicals |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
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. |
: |
200809629E |
|
COMPANY
NAME |
: |
DYNIX
PTE. LTD. |
|
FORMER
NAME |
: |
N/A |
|
INCORPORATION
DATE |
: |
15/05/2008 |
|
COMPANY
STATUS |
: |
EXIST |
|
LEGAL
FORM |
: |
PRIVATE
LIMITED (LIMITED BY SHARE) |
|
LISTED
STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
112,
ROBINSON ROAD, 11-01, ROBINSON 112, 068902, SINGAPORE. |
|
BUSINESS
ADDRESS |
: |
112
ROBINSON ROAD #12-04 ROBINSON 112,, 068902, SINGAPORE. |
|
TEL.NO. |
: |
65-62209070 |
|
FAX.NO. |
: |
65-62239177 |
|
CONTACT
PERSON |
: |
ZHU
WULING ( DIRECTOR ) |
|
PRINCIPAL
ACTIVITY |
: |
TRADING
OF CHEMICALS |
|
ISSUED
AND PAID UP CAPITAL |
: |
500,000.00
ORDINARY SHARE, OF A VALUE OF SGD 500,000.00 |
|
SALES |
: |
USD
19,420,949 [2016] |
|
NET
WORTH |
: |
USD
291,290 [2016] |
|
STAFF
STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL
CONDITION |
: |
POOR |
|
PAYMENT |
: |
Slow |
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL
RISK |
: |
MODERATE |
|
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 chemicals.
The
immediate holding company of the Subject is SUNVIC CHEMICAL HOLDINGS LIMITED, a
company incorporated in SINGAPORE.
The
ultimate holding company of the Subject is WHITEFIELD CAPITAL INC., a company
incorporated in VIRGIN ISLANDS, BRITISH.
Share
Capital History
|
Date |
Issue
& Paid Up Capital |
|
29/12/2017 |
SGD
500,000.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
SUNVIC
CHEMICAL HOLDINGS LIMITED |
112,
ROBINSON ROAD, 11-01, ROBINSON 112 068902 ,SINGAPORE |
200406502E |
500,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
500,000.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
The
Subject's interest in other companies (Subsidiaries/Associates) are shown as
follow :
Local
No |
Country |
Company |
Status |
(%) |
As
At |
|
UNITED
STATES |
JURONG
CHEMICAL LLC |
- |
100.00 |
31/12/2016 |
|
|
VIRGIN
ISLANDS, BRITISH |
LINK
WAY TRADING LIMITED |
- |
100.00 |
31/12/2016 |
DIRECTORS
|
DIRECTOR
1
|
Name
Of Subject |
: |
LIM
JIN SIN |
|
Address |
: |
7,
LORONG 7, TOA PAYOH, 23-195, TOA PAYOH COURT, 310007, SINGAPORE. |
|
IC
/ PP No |
: |
S7278887G |
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
15/05/2008 |
INTEREST CHECK
|
Interest
in companies |
: |
see
below |
|
Interest
in business |
: |
none
in our databank |
|
Former
interest |
: |
none
in our databank |
INTEREST
IN COMPANY
|
No |
Local
No |
Company |
Designation |
App
Date |
Shareholding |
Profit/(loss)
After Tax |
Financial
Year |
Status |
As
At |
|
|
No. |
% |
|||||||||
|
1 |
200809629E |
DYNIX
PTE. LTD. |
Director |
15/05/2008 |
0.00 |
- |
USD(628,052.00) |
2016 |
- |
29/12/2017 |
DIRECTOR
2
|
Name
Of Subject |
: |
SUN
XIAO |
|
Address |
: |
16,
CHAOYANG NEW VILLAGE, ZHOUTIE COUNTY, YIXING, JIANGSU PROVINCE, CHINA. |
|
IC
/ PP No |
: |
E18822881 |
|
Nationality |
: |
CHINESE |
|
Date
of Appointment |
: |
16/05/2012 |
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 |
Profit/(loss)
After Tax |
Financial
Year |
Status |
As
At |
|
|
No. |
% |
|||||||||
|
1 |
200809629E |
DYNIX
PTE. LTD. |
Director |
16/05/2012 |
0.00 |
- |
USD(628,052.00) |
2016 |
- |
29/12/2017 |
DIRECTOR
3
|
Name
Of Subject |
: |
ZHU
WULING |
|
Address |
: |
BUILDING
7, ROOM 103, ZIWEI YUAN, ZHOUTIE TOWN, YIXING CITY, JIANGSU PROVINCE, CHINA. |
|
IC
/ PP No |
: |
E12304669 |
|
Nationality |
: |
CHINESE |
|
Date
of Appointment |
: |
27/04/2009 |
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 |
200809629E |
DYNIX
PTE. LTD. |
Director |
27/04/2009 |
0.00 |
- |
USD(628,052.00) |
2016 |
- |
29/12/2017 |
MANAGEMENT
|
|
1)
|
Name
of Subject |
: |
ZHU
WULING |
|
Position |
: |
DIRECTOR |
AUDITOR
|
|
Auditor |
: |
FOO
KON TAN LLP |
|
Auditor'
Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1)
|
Company
Secretary |
: |
CHAN
LAI YIN |
|
IC
/ PP No |
: |
S7480587F |
|
|
Address |
: |
26,
SIMEI STREET 1, 11-08, MELVILLE PARK, 529947, SINGAPORE. |
|
|
2)
|
Company
Secretary |
: |
SELENA
LEONG SIEW TEE |
|
IC
/ PP No |
: |
S7188506B |
|
|
Address |
: |
80,
ROBINSON ROAD, 02-00, 068898, SINGAPORE. |
|
BANKING
|
No Banker found in our databank.
ENCUMBRANCE
(S)
|
No encumbrance was found in our databank at the time of investigation.
LITIGATION
CHECK - SUBJECT COMPANY AS A DEFENDANT
|
* A check has been conducted in our databank 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 |
[ |
] |
Average
61-90 Days |
[ |
] |
||||||
|
Fair
91-120 Days |
[ |
X |
] |
Poor
>120 Days |
[ |
] |
||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic
Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export
Market |
: |
WORLDWIDE |
|||
|
Credit
Term |
: |
N/A |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods
Traded |
: |
|
|
|
Branch |
: |
|
Other
Information:
The Subject is principally engaged in the (as a / as an) trading of chemicals.
The Subject sells Ethylhexyl Acrylate and related products.
CURRENT
INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
6562209070 |
|
Current
Telephone Number |
: |
65-62209070 |
|
Match |
: |
YES |
|
Address
Provided by Client |
: |
112
ROBINSON ROAD # 11-01 ROBINSON 112 068902 |
|
Current
Address |
: |
112
ROBINSON ROAD #12-04 ROBINSON 112,, 068902, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject and he provided some
information.
The Subject refused to disclose its number of employees and bankers.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
2010
- 2016 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Decreased |
[ |
2010
- 2016 |
] |
|
|
Return
on Shareholder Funds |
: |
Unfavourable |
[ |
(215.61%) |
] |
|
|
Return
on Net Assets |
: |
Unfavourable |
[ |
(207.36%) |
] |
|
|
The
continuous fall in turnover could be due to the lower demand for the
Subject's products / services.The Subject incurred losses during the year due
to the inefficient control of its operating costs. The Subject's unfavourable
returns on shareholders' funds indicate the management's inefficiency in
utilising its assets to generate returns. |
||||||
|
Working
Capital Control |
||||||
|
Debtor
Ratio |
: |
Favourable |
[ |
38
Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
0
Days |
] |
|
|
The
favourable debtors' days could be due to the good credit control measures implemented
by the Subject. The Subject had a favourable creditors' ratio where the
Subject could be taking advantage of the cash discounts and also wanting to
maintain goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid
Ratio |
: |
Favourable |
[ |
1.04
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
1.04
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 |
[ |
(30.95
Times) |
] |
|
|
Gearing
Ratio |
: |
Unfavourable |
[ |
7.21
Times |
] |
|
|
The
Subject incurred losses in the year. It did not generate sufficient income to
service its interest. If the situation does not improve, the Subject
may be vulnerable to default in servicing the interest. 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's losses could be attributed to the lower turnover which in turn
could be the result of unfavourable market conditions. 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's interest cover was
negative, indicating that it did not generate sufficient income to service
its interest. If its result does not show impressive improvements or succeed
obtaining short term financing or capital injection, it may not be able to
service its interest and repay the loans. 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 : POOR |
||||||
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
|
|
|
FINANCIAL
|
PROFIT
AND LOSS ACCOUNT |
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
DYNIX
PTE. LTD. |
|
Financial
Year End |
2016-12-31 |
2015-12-31 |
2014-12-31 |
|
Months |
12 |
12 |
12 |
|
Consolidated
Account |
Company |
Company |
Company |
|
Audited
Account |
YES |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
|
Financial
Type |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
|
TURNOVER |
19,420,949 |
25,184,533 |
34,190,384 |
|
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
19,420,949 |
25,184,533 |
34,190,384 |
|
Costs
of Goods Sold |
(19,545,595) |
(24,706,499) |
(33,766,678) |
|
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
(124,646) |
478,034 |
423,706 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
(623,537) |
254,735 |
134,105 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
(623,537) |
254,735 |
134,105 |
|
Taxation |
(4,515) |
- |
19,112 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
(628,052) |
254,735 |
153,217 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As
previously reported |
547,166 |
3,292,431 |
3,139,214 |
|
---------------- |
---------------- |
---------------- |
|
|
As
restated |
547,166 |
3,292,431 |
3,139,214 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
(80,886) |
3,547,166 |
3,292,431 |
|
DIVIDENDS
- Ordinary (paid & proposed) |
- |
(3,000,000) |
- |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
(80,886) |
547,166 |
3,292,431 |
|
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||
|
Others |
19,515 |
- |
- |
|
---------------- |
---------------- |
---------------- |
|
|
19,515 |
- |
- |
|
|
============= |
- |
- |
|
|
BALANCE
SHEET |
|
DYNIX
PTE. LTD. |
|
LONG
TERM INVESTMENTS/OTHER ASSETS |
|||
|
Subsidiary
companies |
18,001 |
18,001 |
18,001 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
18,001 |
18,001 |
18,001 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
18,001 |
18,001 |
18,001 |
|
Trade
debtors |
2,027,969 |
2,663,916 |
4,382,134 |
|
Other
debtors, deposits & prepayments |
310 |
310 |
310 |
|
Amount
due from holding company |
2,661,297 |
1,318,416 |
4,152,321 |
|
Amount
due from subsidiary companies |
184,089 |
184,089 |
450,000 |
|
Amount
due from related companies |
- |
- |
2,190,210 |
|
Cash
& bank balances |
2,214,061 |
2,555,630 |
1,657,343 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
7,087,726 |
6,722,361 |
12,832,318 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
7,105,727 |
6,740,362 |
12,850,319 |
|
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||
|
Trade
creditors |
- |
- |
2,098,075 |
|
Other
creditors & accruals |
258,570 |
19,760 |
21,381 |
|
Short
term borrowings/Term loans |
2,100,000 |
- |
- |
|
Deposits
from customers |
414,220 |
- |
87,725 |
|
Amounts
owing to subsidiary companies |
250,000 |
- |
101,411 |
|
Amounts
owing to related companies |
3,791,647 |
5,801,260 |
6,877,120 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
6,814,437 |
5,821,020 |
9,185,712 |
|
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
273,289 |
901,341 |
3,646,606 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
291,290 |
919,342 |
3,664,607 |
|
============= |
============= |
============= |
|
|
SHARE
CAPITAL |
|||
|
Ordinary
share capital |
372,176 |
372,176 |
372,176 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
372,176 |
372,176 |
372,176 |
|
Retained
profit/(loss) carried forward |
(80,886) |
547,166 |
3,292,431 |
|
Others |
- |
- |
0 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
(80,886) |
547,166 |
3,292,431 |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
291,290 |
919,342 |
3,664,607 |
|
---------------- |
---------------- |
---------------- |
|
|
291,290 |
919,342 |
3,664,607 |
|
|
============= |
============= |
============= |
|
|
FINANCIAL
RATIO |
|
DYNIX
PTE. LTD. |
|
TYPES
OF FUNDS |
|||
|
Cash |
2,214,061 |
2,555,630 |
1,657,343 |
|
Net
Liquid Funds |
2,214,061 |
2,555,630 |
1,657,343 |
|
Net
Liquid Assets |
273,289 |
901,341 |
3,646,606 |
|
Net
Current Assets/(Liabilities) |
273,289 |
901,341 |
3,646,606 |
|
Net
Tangible Assets |
291,290 |
919,342 |
3,664,607 |
|
Net
Monetary Assets |
273,289 |
901,341 |
3,646,606 |
|
PROFIT
& LOSS ITEMS |
|||
|
Earnings
Before Interest & Tax (EBIT) |
0 |
0 |
134,105 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
(604,022) |
254,735 |
134,105 |
|
BALANCE
SHEET ITEMS |
|||
|
Total
Borrowings |
2,100,000 |
0 |
0 |
|
Total
Liabilities |
6,814,437 |
5,821,020 |
9,185,712 |
|
Total
Assets |
7,105,727 |
6,740,362 |
12,850,319 |
|
Net
Assets |
291,290 |
919,342 |
3,664,607 |
|
Net
Assets Backing |
291,290 |
919,342 |
3,664,607 |
|
Shareholders'
Funds |
291,290 |
919,342 |
3,664,607 |
|
Total
Share Capital |
372,176 |
372,176 |
372,176 |
|
Total
Reserves |
(80,886) |
547,166 |
3,292,431 |
|
GROWTH
RATIOS (Year on Year) |
|||
|
Revenue |
(22.89) |
(26.34) |
840.19 |
|
Proft/(Loss)
Before Tax |
(344.78) |
89.95 |
140.09 |
|
Proft/(Loss)
After Tax |
(346.55) |
66.26 |
145.80 |
|
Total
Assets |
5.42 |
(58.55) |
169.20 |
|
Total
Liabilities |
17.07 |
(49.92) |
1,655.08 |
|
LIQUIDITY
(Times) |
|||
|
Cash
Ratio |
0.32 |
0.44 |
0.18 |
|
Liquid
Ratio |
1.04 |
1.15 |
1.40 |
|
Current
Ratio |
1.04 |
1.15 |
1.40 |
|
WORKING
CAPITAL CONTROL (Days) |
|||
|
Stock
Ratio |
0 |
0 |
0 |
|
Debtors
Ratio |
38 |
39 |
47 |
|
Creditors
Ratio |
0 |
0 |
23 |
|
SOLVENCY
RATIOS (Times) |
|||
|
Gearing
Ratio |
7.21 |
0 |
0 |
|
Liabilities
Ratio |
23.39 |
6.33 |
2.51 |
|
Times
Interest Earned Ratio |
(30.95) |
0 |
0 |
|
Assets
Backing Ratio |
0.78 |
2.47 |
9.85 |
|
PERFORMANCE
RATIO (%) |
|||
|
Operating
Profit Margin |
(3.21) |
1.01 |
0.39 |
|
Net
Profit Margin |
(3.23) |
1.01 |
0.45 |
|
Return
On Net Assets |
(207.36) |
27.71 |
3.66 |
|
Return
On Capital Employed |
(207.36) |
27.71 |
3.66 |
|
Return
On Shareholders' Funds/Equity |
(215.61) |
27.71 |
4.18 |
|
Dividend
Pay Out Ratio (Times) |
0 |
11.78 |
0 |
|
NOTES
TO ACCOUNTS |
|||
|
Contingent
Liabilities |
0 |
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
: |
VAR |
|
|
|
|
Report Prepared
by : |
KET |
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.