|
|
|
MIRA INFORM REPORT
|
Report No. : |
484894 |
|
Report Date : |
12.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
SCHALLER AUTOMATION PTE. LTD. |
|
|
|
|
Registered Office : |
114, Lavender Street, 09-93, Ct Hub 2, 338729 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
2016 |
|
|
|
|
Date of Incorporation : |
23.08.2004 |
|
|
|
|
Com. Reg. No.: |
200410681K |
|
|
|
|
Legal Form : |
Private Limited (Limited by Share) |
|
|
|
|
Line of Business : |
Subject is principally engaged in the trading of safety equipments,
detection equipment for marine offshore and power plant and the related
services. |
|
|
|
|
No. of Employees : |
3 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
C |
|
Credit Rating |
Explanation |
Rating Comments |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
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. |
: |
200410681K |
|
COMPANY
NAME |
: |
SCHALLER
AUTOMATION PTE. LTD. |
|
FORMER
NAME |
: |
N/A |
|
INCORPORATION
DATE |
: |
23/08/2004 |
|
COMPANY
STATUS |
: |
EXIST |
|
LEGAL
FORM |
: |
PRIVATE
LIMITED (LIMITED BY SHARE) |
|
LISTED
STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
114,
LAVENDER STREET, 09-93, CT HUB 2, 338729, SINGAPORE. |
|
BUSINESS
ADDRESS |
: |
114
LAVENDER STREET, 09-93 CT HUB 2, 338729, SINGAPORE. |
|
TEL.NO. |
: |
65-66435151 |
|
FAX.NO. |
: |
65-66435150 |
|
MOBILE
NO. |
: |
97887550 |
|
WEB
SITE |
: |
WWW.SCHALLER.SG |
|
CONTACT
PERSON |
: |
STEPHAN
FRANZ OSWALD SCHALLER ( DIRECTOR ) |
|
PRINCIPAL
ACTIVITY |
: |
TRADING
OF SAFETY EQUIPMENTS, DETECTION EQUIPMENT FOR MARINE OFFSHORE AND POWER PLANT
AND THE RELATED SERVICES |
|
ISSUED
AND PAID UP CAPITAL |
: |
100.00
ORDINARY SHARE, OF A VALUE OF SGD 100.00 |
|
SALES |
: |
SGD
1,780,975 [2016] |
|
NET
WORTH |
: |
SGD
(1,211,082) [2016] |
|
STAFF
STRENGTH |
: |
3
[2018] |
|
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 safety equipments, detection equipment for marine
offshore and power plant and the related services.
The immediate holding company of the Subject
is SIHOS PTE. LTD., a company incorporated in SINGAPORE.
The ultimate holding company of the Subject
is DEHOS GMBH & CO. KG, a company incorporated in GERMANY.
Former
Address(es)
|
Address |
As
At Date |
|
8
ADMIRALTY STREET #07- 01/02 ADMIRAX, 757438 |
N/A |
Share
Capital History
|
Date |
Issue
& Paid Up Capital |
|
09/01/2018 |
SGD
100.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
SIHOS
PTE. LTD. |
114,
LAVENDER STREET, 09-93, CT HUB 2 338729 ,SINGAPORE |
201016956Z |
100.00 |
100.00 |
|
--------------- |
------ |
|||
|
100.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
DIRECTORS
|
DIRECTOR
1
|
Name
Of Subject |
: |
STEPHAN
FRANZ OSWALD SCHALLER |
|
Address |
: |
HOEHENWEG,
3, SAARBRUECKEN, 66133, GERMANY. |
|
IC
/ PP No |
: |
C34R8ZN1W |
|
Nationality |
: |
GERMAN |
|
Date
of Appointment |
: |
20/02/2009 |
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 |
200410681K |
SCHALLER
AUTOMATION PTE. LTD. |
Director |
20/02/2009 |
0.00 |
- |
SGD(99,218.00) |
2016 |
- |
09/01/2018 |
DIRECTOR
2
|
Name
Of Subject |
: |
RENYE
SASCHA PIERRE |
|
Address |
: |
7,
NEWTON ROAD, 23-02, TRILIGHT, 307945, SINGAPORE. |
|
IC
/ PP No |
: |
G3223522R |
|
Nationality |
: |
GERMAN |
|
Date
of Appointment |
: |
01/10/2016 |
INTEREST CHECK
|
Interest
in companies |
: |
see
below |
|
Interest
in business |
: |
none
in our databank |
|
Former
interest |
: |
none
in our databank |
INTEREST
IN COMPANY
|
No |
Local
No |
Company |
Designation |
App
Date |
Shareholding |
Profit/(loss)
After Tax |
Financial
Year |
Status |
As
At |
|
|
No. |
% |
|||||||||
|
1 |
200410681K |
SCHALLER
AUTOMATION PTE. LTD. |
Director |
01/10/2016 |
0.00 |
- |
SGD(99,218.00) |
2016 |
- |
09/01/2018 |
DIRECTOR
3
|
Name
Of Subject |
: |
DR
WEINGARTEN PAUL CHRISTIAN |
|
Address |
: |
27,
BALMORAL PARK, 08-27, 259855, SINGAPORE. |
|
IC
/ PP No |
: |
G6035113P |
|
Nationality |
: |
AUSTRIAN |
|
Date
of Appointment |
: |
30/12/2014 |
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 |
200105913Z |
BIZERBA
SOUTH EAST ASIA PTE. LTD. |
Director |
31/05/2011 |
0.00 |
- |
EUR2,083,363.00 |
2015 |
- |
03/05/2017 |
|
2 |
200410681K |
SCHALLER
AUTOMATION PTE. LTD. |
Director |
30/12/2014 |
0.00 |
- |
SGD(99,218.00) |
2016 |
- |
09/01/2018 |
MANAGEMENT
|
|
1) |
Name
of Subject |
: |
STEPHAN
FRANZ OSWALD SCHALLER |
|
Position |
: |
DIRECTOR |
|
|
|
AUDITOR
|
No Auditor found in our databank
COMPANY
SECRETARIES
|
|
1) |
Company
Secretary |
: |
YAP
MEI HSIA |
|
IC
/ PP No |
: |
S7969913F |
|
|
Address |
: |
8A,
HOUGANG STREET 11, 04-26, THE MINTON, 534081, SINGAPORE. |
|
|
2) |
Company
Secretary |
: |
CHIA
LAY BENG |
|
IC
/ PP No |
: |
S0107267F |
|
|
Address |
: |
16,
AMBER GARDENS, 05-01, AMBER PARK, 439961, 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 |
[ |
X |
] |
|||||
|
Fair
91-120 Days |
[ |
] |
Poor
>120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic
Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export
Market |
: |
WORLDWIDE |
|||
|
Credit
Term |
: |
N/A |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods
Traded |
: |
SAFETY
EQUIPMENTS, DETECTION EQUIPMENT FOR MARINE OFFSHORE AND POWER PLANT |
|
|
Total
Number of Employees: |
|||||||||
|
YEAR |
2018 |
||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
3 |
||||||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) trading of safety
equipments, detection equipment for marine offshore and power plant and the related
services.
Schaller Automation's VISATRON® Oil Mist Detector Systems have been protecting
large Diesel, Gas and Dual Fuel engines from crankcase explosions. With the
extensive experience, accumulated over decades, in developing & improving
the product, Schaller Automation is deservedly the market leader in oil mist
detection systems.
Schaller Automation is deservedly the market leader in oil mist detection
systems.
CURRENT
INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-66435151 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
114
LAVENDER STREET, NO. 09-93 CT HUB 2, SINGAPORE 338729 |
|
Current
Address |
: |
114
LAVENDER STREET, 09-93 CT HUB 2, 338729, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
On 10th January 2018 we contacted one of the staff from the Subject and he
provided some information.
The Subject refused to disclose its bankers.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2014
- 2016 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Decreased |
[ |
2014
- 2016 |
] |
|
|
Return
on Shareholder Funds |
: |
Unfavourable |
[ |
8.19% |
] |
|
|
Return
on Net Assets |
: |
Unfavourable |
[ |
26.71% |
] |
|
|
The
fluctuating turnover reflects the fierce competition among the existing and
new market players.The Subject incurred losses during the year due to the
inefficient control of its operating costs. 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 |
: |
Unfavourable |
[ |
77
Days |
] |
|
|
Debtor
Ratio |
: |
Favourable |
[ |
44
Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
1
Days |
] |
|
|
The
Subject could be incurring higher holding cost. As its capital was tied up in
stocks, it could face liquidity problems. 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 |
: |
Unfavourable |
[ |
0.68
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
0.81
Times |
] |
|
|
A
low liquid ratio means that the Subject may be facing working capital deficiency.
If the Subject cannot obtain additional financing or injection of fresh
capital, it may face difficulties in meeting its short term obligations. |
||||||
|
Solvency |
||||||
|
Interest
Cover |
: |
Unfavourable |
[ |
(64.62
Times) |
] |
|
|
Gearing
Ratio |
: |
Unfavourable |
[ |
(0.01
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's gearing was
negative during the year as its shareholders' funds was in the red. This
means the Subject is running its business using borrowed money. We consider
the Subject as facing high financial risks. |
||||||
|
Overall
Assessment : |
||||||
|
The
Subject's losses increased but its turnover showed a fluctuating trend.
This indicate the Subject was slowly losing its market share due to its competitors.
Due to its weak liquidity position, the Subject will be faced with problems
in meeting all its short term obligations if no short term loan is obtained
or additional capital injected into the Subject. 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 has high
financial risks. If its shareholders do not inject more capital into the
company or if its business performance does not improve, its going concern
may be in question. |
||||||
|
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) |
|||||
|
(Source
: Department of Statistics) |
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. |
|
SCHALLER
AUTOMATION 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 |
NO |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
NO |
YES |
YES |
|
Financial
Type |
FULL |
FULL |
SUMMARY |
|
Currency |
SGD |
SGD |
SGD |
|
TURNOVER |
1,780,975 |
2,062,384 |
1,907,302 |
|
Other
Income |
2,104,315 |
2,281,032 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
3,885,290 |
4,343,416 |
1,907,302 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
(99,218) |
86,232 |
96,326 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
(99,218) |
86,232 |
96,326 |
|
Taxation |
- |
- |
0 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
(99,218) |
86,232 |
96,326 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As
previously reported |
(1,111,964) |
(1,198,196) |
(1,294,522) |
|
---------------- |
---------------- |
---------------- |
|
|
As
restated |
(1,111,964) |
(1,198,196) |
(1,294,522) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
(1,211,182) |
(1,111,964) |
(1,198,196) |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
(1,211,182) |
(1,111,964) |
(1,198,196) |
|
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||
|
Hire
purchase |
1,512 |
7,546 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
1,512 |
7,546 |
- |
|
|
|
============= |
============= |
- |
BALANCE
SHEET
|
|
SCHALLER
AUTOMATION PTE. LTD. |
|
ASSETS
EMPLOYED: |
|||
|
FIXED
ASSETS |
204,069 |
18,179 |
2,576 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
204,069 |
18,179 |
2,576 |
|
Stocks |
373,515 |
376,220 |
- |
|
Trade
debtors |
214,307 |
216,023 |
- |
|
Other
debtors, deposits & prepayments |
112,784 |
93,079 |
- |
|
Amount
due from holding company |
848,570 |
26,068 |
- |
|
Amount
due from related companies |
252,897 |
690,984 |
- |
|
Cash
& bank balances |
564,147 |
533,619 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
2,366,220 |
1,935,993 |
1,854,475 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
2,570,289 |
1,954,172 |
1,857,051 |
|
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||
|
Trade
creditors |
6,504 |
9,916 |
- |
|
Other
creditors & accruals |
473,401 |
436,218 |
- |
|
Hire
purchase & lease creditors |
7,800 |
7,200 |
- |
|
Amounts
owing to related companies |
2,448,401 |
1,714,518 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
2,936,106 |
2,167,852 |
2,103,763 |
|
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
(569,886) |
(231,859) |
(249,288) |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
(365,817) |
(213,680) |
(246,712) |
|
============= |
============= |
============= |
|
|
SHARE
CAPITAL |
|||
|
Ordinary
share capital |
100 |
100 |
100 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
100 |
100 |
100 |
|
Retained
profit/(loss) carried forward |
(1,211,182) |
(1,111,964) |
(1,198,196) |
|
Others |
- |
- |
0 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
(1,211,182) |
(1,111,964) |
(1,198,196) |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
(1,211,082) |
(1,111,864) |
(1,198,096) |
|
Hire
purchase creditors |
- |
7,800 |
- |
|
Others |
845,265 |
890,384 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
845,265 |
898,184 |
951,384 |
|
---------------- |
---------------- |
---------------- |
|
|
(365,817) |
(213,680) |
(246,712) |
|
|
|
============= |
============= |
============= |
FINANCIAL
RATIO
|
|
SCHALLER
AUTOMATION PTE. LTD. |
|
TYPES
OF FUNDS |
|||
|
Cash |
564,147 |
533,619 |
- |
|
Net
Liquid Funds |
564,147 |
533,619 |
- |
|
Net
Liquid Assets |
(943,401) |
(608,079) |
(249,288) |
|
Net
Current Assets/(Liabilities) |
(569,886) |
(231,859) |
(249,288) |
|
Net
Tangible Assets |
(365,817) |
(213,680) |
(246,712) |
|
Net
Monetary Assets |
(1,788,666) |
(1,506,263) |
(1,200,672) |
|
PROFIT
& LOSS ITEMS |
|||
|
Earnings
Before Interest & Tax (EBIT) |
0 |
0 |
- |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
(97,706) |
93,778 |
- |
|
BALANCE
SHEET ITEMS |
|||
|
Total
Borrowings |
7,800 |
15,000 |
- |
|
Total
Liabilities |
3,781,371 |
3,066,036 |
3,055,147 |
|
Total
Assets |
2,570,289 |
1,954,172 |
1,857,051 |
|
Net
Assets |
(365,817) |
(213,680) |
(246,712) |
|
Net
Assets Backing |
(1,211,082) |
(1,111,864) |
(1,198,096) |
|
Shareholders'
Funds |
(1,211,082) |
(1,111,864) |
(1,198,096) |
|
Total
Share Capital |
100 |
100 |
100 |
|
Total
Reserves |
(1,211,182) |
(1,111,964) |
(1,198,196) |
|
GROWTH
RATIOS (Year on Year) |
|||
|
Revenue |
(13.64) |
8.13 |
(3.11) |
|
Proft/(Loss)
Before Tax |
(215.06) |
(10.48) |
134.48 |
|
Proft/(Loss)
After Tax |
(215.06) |
(10.48) |
135.56 |
|
Total
Assets |
38.41 |
5.23 |
(18.14) |
|
Total
Liabilities |
23.77 |
0.36 |
0.85 |
|
LIQUIDITY
(Times) |
|||
|
Cash
Ratio |
0.19 |
0.25 |
- |
|
Liquid
Ratio |
0.68 |
0.72 |
- |
|
Current
Ratio |
0.81 |
0.89 |
0.88 |
|
WORKING
CAPITAL CONTROL (Days) |
|||
|
Stock
Ratio |
77 |
67 |
- |
|
Debtors
Ratio |
44 |
38 |
- |
|
Creditors
Ratio |
1 |
2 |
- |
|
SOLVENCY
RATIOS (Times) |
|||
|
Gearing
Ratio |
(0.01) |
(0.01) |
- |
|
Liabilities
Ratio |
(3.12) |
(2.76) |
(2.55) |
|
Times
Interest Earned Ratio |
(64.62) |
12.43 |
- |
|
Assets
Backing Ratio |
(3,658.17) |
(2,136.80) |
(2,467.12) |
|
PERFORMANCE
RATIO (%) |
|||
|
Operating
Profit Margin |
(5.57) |
4.18 |
5.05 |
|
Net
Profit Margin |
(5.57) |
4.18 |
5.05 |
|
Return
On Net Assets |
26.71 |
(43.89) |
(39.04) |
|
Return
On Capital Employed |
27.29 |
(45.42) |
(39.04) |
|
Return
On Shareholders' Funds/Equity |
8.19 |
(7.76) |
(8.04) |
|
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 63.73 |
|
|
1 |
INR 86.01 |
|
Euro |
1 |
INR 76.13 |
|
SGD |
1 |
INR 47.82 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
DNS |
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.