|
|
|
MIRA INFORM REPORT
|
Report No. : |
485630 |
|
Report Date : |
15.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
WIPRO GE HEALTHCARE PRIVATE LIMITED BRANCH OFFICE |
|
|
|
|
Registered Office : |
1, Maritime Square,
13-01, Harbourfront Centre, 099253 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation : |
14.08.2008 |
|
|
|
|
Com. Reg. No.: |
T08FC7246K |
|
|
|
|
Legal Form : |
Foreign Company |
|
|
|
|
Line of Business : |
The Subject is principally engaged in wholesale
of medical, professional, scientific and precision equipment. |
|
|
|
|
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 : |
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. |
: |
T08FC7246K |
|
COMPANY
NAME |
: |
WIPRO
GE HEALTHCARE PRIVATE LIMITED BRANCH OFFICE |
|
FORMER
NAME |
: |
N/A |
|
INCORPORATION
DATE |
: |
14/08/2008 |
|
COMPANY
STATUS |
: |
EXIST |
|
LEGAL
FORM |
: |
FOREIGN
COMPANY |
|
LISTED
STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
1,
MARITIME SQUARE, 13-01, HARBOURFRONT CENTRE, 099253, SINGAPORE. |
|
BUSINESS
ADDRESS |
: |
1,
MARITIME SQUARE, 13-01, HARBOURFRONT CENTRE, 099253, SINGAPORE. |
|
TEL.NO. |
: |
65-62918528 |
|
FAX.NO. |
: |
65-62917006 |
|
CONTACT
PERSON |
: |
RISHAD
AZIM PREMJI ( DIRECTOR ) |
|
PRINCIPAL
ACTIVITY |
: |
WHOLESALE
OF MEDICAL, PROFESSIONAL, SCIENTIFIC AND PRECISION EQUIPMENT |
|
SALES |
: |
USD
49,684,538 [2017] |
|
NET WORTH |
: |
USD
15,705,378 [2017] |
|
STAFF
STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL
CONDITION |
: |
STRONG |
|
PAYMENT |
: |
NO
COMPLAINTS |
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL
RISK |
: |
MODERATE |
|
CURRENCY
EXPOSURE |
: |
MODERATE |
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY
OUTLOOK |
: |
AVERAGE
GROWTH |
HISTORY / BACKGROUND
|
The
Subject is principally engaged in the (as a / as an) wholesale of medical,
professional, scientific and precision equipment.
The
ultimate holding company of the Subject is GENERAL ELECTRIC COMPANY, a company
incorporated in UNITED STATES.
No
shareholders was found in our databank at the time of investigation
DIRECTORS
|
DIRECTOR 1
|
Name Of
Subject |
: |
MONISH
D PATOLAWALA |
|
Address |
: |
5803,
WOODMERE DRIVE, HINSDALE, IL60521, UNITED STATES. |
|
IC / PP
No |
: |
520655111 |
|
Nationality |
: |
AMERICAN |
|
Date of
Appointment |
: |
04/11/2015 |
INTEREST CHECK
|
Interest
in companies |
: |
see
below |
|
Interest
in business |
: |
none in
our databank |
|
Former
interest |
: |
none in
our databank |
INTEREST
IN COMPANY
|
No |
Local
No |
Company |
Designation |
App
Date |
Shareholding |
Profit/(loss)
After Tax |
Financial
Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
T08FC7246K |
WIPRO
GE HEALTHCARE PRIVATE LIMITED BRANCH OFFICE |
Director |
04/11/2015 |
0.00 |
- |
USD1,560,146.00 |
2017 |
- |
11/01/2018 |
DIRECTOR 2
|
Name Of
Subject |
: |
RISHAD
AZIM PREMJI |
|
Address |
: |
3H,
ORCHARD GREEN, 139/34, AMAR JYOTHI LAYOUT, BANGALORE, KARNATAKA, 560071,
INDIA. |
|
Other
Address(es) |
: |
46, F.B
DESAI ROAD MUMBAI, MAHARASHTRA, INDIA 40026 |
|
IC / PP
No |
: |
Z2187420 |
|
Nationality |
: |
INDIAN |
|
Date of
Appointment |
: |
17/03/2010 |
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 |
T08FC7246K |
WIPRO GE
HEALTHCARE PRIVATE LIMITED BRANCH OFFICE |
Director |
17/03/2010 |
0.00 |
- |
USD1,560,146.00 |
2017 |
- |
11/01/2018 |
|
2 |
994133M |
WIPRO
LIMITED |
Director |
01/05/2015 |
0.00 |
- |
MYR1,491,932.00 |
2017 |
- |
26/12/2017 |
DIRECTOR 3
|
Name Of
Subject |
: |
AZIM
HASHAM PREMJI |
|
Address |
: |
75,
133, 135/1, 136/1, DODDAKANNALLI VILLAGE, SARJAPUR ROAD, BANGALORE,
KARNATAKA, 560035, INDIA. |
|
IC / PP
No |
: |
Z1651665 |
|
Nationality |
: |
INDIAN |
|
Date of
Appointment |
: |
30/03/1990 |
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 |
T08FC7246K |
WIPRO
GE HEALTHCARE PRIVATE LIMITED BRANCH OFFICE |
Director |
30/03/1990 |
0.00 |
- |
USD1,560,146.00 |
2017 |
- |
11/01/2018 |
DIRECTOR 4
|
Name Of
Subject |
: |
PRATIK
KUMAR |
|
Address |
: |
421/A,
PALM MEADOWS 2, PH, WHITEFIELD RD, RAMAGONDANAHALLI, BANGALORE, KARNATAKA,
560066, INDIA. |
|
IC / PP
No |
: |
Z1556201 |
|
Nationality |
: |
INDIAN |
|
Date of
Appointment |
: |
02/05/2002 |
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 |
T08FC7246K |
WIPRO
GE HEALTHCARE PRIVATE LIMITED BRANCH OFFICE |
Director |
02/05/2002 |
0.00 |
- |
USD1,560,146.00 |
2017 |
- |
11/01/2018 |
DIRECTOR 5
|
Name Of
Subject |
: |
SURESH
CHANDRA SENAPATY |
|
Address |
: |
301,
BRIDGADE LAVELLE 1, LAVELLE ROAD, BANGLORE, 560001, INDIA. |
|
IC / PP
No |
: |
Z1731196 |
|
Nationality |
: |
INDIAN |
|
Date of
Appointment |
: |
25/01/1995 |
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 |
T08FC7246K |
WIPRO
GE HEALTHCARE PRIVATE LIMITED BRANCH OFFICE |
Director |
25/01/1995 |
0.00 |
- |
USD1,560,146.00 |
2017 |
- |
11/01/2018 |
DIRECTOR 6
|
Name Of
Subject |
: |
KARIM
KARTI |
|
Address |
: |
1735,
WEDGEWOOD, DR E ELM GROVE WI, 53122, UNITED STATES. |
|
IC / PP
No |
: |
13AL23588 |
|
Nationality |
: |
FRENCH |
|
Date of
Appointment |
: |
12/09/2014 |
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 |
T08FC7246K |
WIPRO
GE HEALTHCARE PRIVATE LIMITED BRANCH OFFICE |
Director |
12/09/2014 |
0.00 |
- |
USD1,560,146.00 |
2017 |
- |
11/01/2018 |
DIRECTOR 7
|
Name Of
Subject |
: |
CHARLES
PERCY NUGENT |
|
Address |
: |
541, E
ERIE ST, 517, MILWAUKEE WI, 53202, UNITED STATES. |
|
IC / PP
No |
: |
544191061 |
|
Nationality |
: |
AMERICAN |
|
Date of
Appointment |
: |
27/04/2016 |
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 |
T08FC7246K |
WIPRO GE
HEALTHCARE PRIVATE LIMITED BRANCH OFFICE |
Director |
27/04/2016 |
0.00 |
- |
USD1,560,146.00 |
2017 |
- |
11/01/2018 |
DIRECTOR 8
|
Name Of
Subject |
: |
SUNIL
KUMAR WADHWA |
|
Address |
: |
B-29,
OPP. MOTHER SCHOOL SARVODAYA ENCLAVE, DELHI, 110017, INDIA. |
|
IC / PP
No |
: |
Z4020455 |
|
Nationality |
: |
INDIAN |
|
Date of
Appointment |
: |
11/12/2017 |
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 |
Profit/(loss)
After Tax |
Financial
Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
T08FC7246K |
WIPRO
GE HEALTHCARE PRIVATE LIMITED BRANCH OFFICE |
Director |
11/12/2017 |
0.00 |
- |
USD1,560,146.00 |
2017 |
- |
11/01/2018 |
DIRECTOR 9
|
Name Of
Subject |
: |
NALINIKANTH
GOLLAGUNTA |
|
Address |
: |
201, SESHA
1-D, DIVYASREE ELAN, SARJAPUR ROAD BENGALURU, KARNATAKA, 560103, INDIA. |
|
IC / PP
No |
: |
Z3925950 |
|
Nationality |
: |
INDIAN |
|
Date of
Appointment |
: |
01/10/2017 |
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 |
Profit/(loss)
After Tax |
Financial
Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
T08FC7246K |
WIPRO
GE HEALTHCARE PRIVATE LIMITED BRANCH OFFICE |
Director |
01/10/2017 |
0.00 |
- |
USD1,560,146.00 |
2017 |
- |
11/01/2018 |
DIRECTOR 10
|
Name Of
Subject |
: |
TEKKETHALAKAL
KURIEN KURIEN |
|
Address |
: |
FLAT
701, ETA BEAU MONDE, 7TH FLOOR,17, BENSON CROSS ROAD, BENSON TOWN BENGALURU
PIN, KARNATAKA, 560046, INDIA. |
|
IC / PP
No |
: |
Z3115976 |
|
Nationality |
: |
INDIAN |
|
Date of
Appointment |
: |
12/09/2017 |
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 |
Profit/(loss)
After Tax |
Financial
Year |
Status |
As At |
|
|
No. |
% |
|||||||||
|
1 |
T08FC7246K |
WIPRO
GE HEALTHCARE PRIVATE LIMITED BRANCH OFFICE |
Director |
12/09/2017 |
0.00 |
- |
USD1,560,146.00 |
2017 |
- |
11/01/2018 |
MANAGEMENT
|
|
1) |
Name of
Subject |
: |
RISHAD
AZIM PREMJI |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
No Auditor found in our databank
COMPANY SECRETARIES
|
|
1) |
Company
Secretary |
: |
KENNETH
ONG HENG HENG |
|
IC / PP
No |
: |
S7013671F |
|
|
Address |
: |
11,
NORTH BUONA VISTA DRIVE, 09-00, THE METROPOLIS, 138589, SINGAPORE. |
|
|
Remarks |
: |
AUTHORISED
REPRESENTATIVE |
|
|
2) |
Company
Secretary |
: |
DUGGAL
AJAY |
|
IC / PP
No |
: |
S7369745Z |
|
|
Address |
: |
70,
BAYSHORE ROAD, 07-09, COSTA DEL SOL, 469987, SINGAPORE. |
|
|
Remarks |
: |
AUTHORISED
REPRESENTATIVE |
|
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 against the Subject whether the
subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
PAYMENT RECORD
|
|
||
|
SOURCES
OF RAW MATERIALS: |
||
|
Local |
: |
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 |
: |
ASIA |
|||
|
Credit
Term |
: |
N/A |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods
Traded |
: |
MEDICAL,
PROFESSIONAL, SCIENTIFIC AND PRECISION EQUIPMENT |
|
|
Total
Number of Employees: |
|
||||||||
|
YEAR |
2016 |
2015 |
2014 |
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
1 |
180 |
180 |
||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) wholesale of medical,
professional, scientific and precision equipment.
GE Healthcare provides transformational medical technologies and services that
are shaping a new age of patient care.
Healthcare is one of the fastest growing businesses in GE Singapore's
portfolio, where it supplies to ministry departments, hospitals, healthcare,
research and training facilities with the latest diagnostic imaging equipment
and healthcare information systems.
CURRENT INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-62918528 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
C/O GE
PACIFIC PTE LTD 1 MARITIME SQUARE 13-01 HARBOUR FRONT CENTRE 099253 |
|
Current
Address |
: |
1,
MARITIME SQUARE, 13-01, HARBOURFRONT CENTRE, 099253, SINGAPORE. |
|
Match |
: |
YES |
|
|
||
Other
Investigations
We contacted one of the staff from the Subject and she provided limited
information.
GE PACIFIC PRIVATE LIMITED is the Subject's related company.
The Subject refused to disclose its number of employees and bankers.
FINANCIAL ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2013 -
2017 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
2013 -
2017 |
] |
|
|
Return
on Shareholder Funds |
: |
Unfavourable |
[ |
9.93% |
] |
|
|
Return
on Net Assets |
: |
Unfavourable |
[ |
7.08% |
] |
|
|
The
fluctuating turnover reflects the fierce competition among the existing and
new market players.The higher profit could be attributed to the increase in turnover.
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 |
[ |
8 Days |
] |
|
|
Debtor
Ratio |
: |
Unfavourable |
[ |
91 Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
31 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 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 |
[ |
1.95
Times |
] |
|
|
Current
Ratio |
: |
Favourable |
[ |
2.02
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 |
: |
Nil |
[ |
0.00
Times |
] |
|
|
Gearing
Ratio |
: |
Favourable |
[ |
0.00
Times |
] |
|
|
The Subject's
interest cover was nil as it did not pay any interest during the year. The
Subject had no gearing and hence it had virtually no financial risk. The
Subject was financed by its shareholders' funds and internally generated
fund. During the economic downturn, the Subject, having a zero gearing, will
be able to compete better than those which are highly geared in the same
industry. |
||||||
|
Overall
Assessment : |
||||||
|
Although
the turnover was erratic, the Subject had maintained a steady growth in its
profit. This indicate the management's efficiency in controlling its costs
and profitability. 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 did not make any interest payment during the year.
The Subject was dependent on its shareholders' funds to finance its business
needs. The Subject was a zero gearing company, it was solely dependant on its
shareholders to provide funds to finance its business. The Subject has good
chance of getting loans, if the needs arises. |
||||||
|
Overall
financial condition of the Subject : STRONG |
||||||
|
|
||||||
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. |
|
WIPRO
GE HEALTHCARE PRIVATE LIMITED BRANCH OFFICE |
|
Financial
Year End |
2017-03-31 |
2016-03-31 |
2015-03-31 |
2014-03-31 |
2013-03-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated
Account |
Company |
Company |
Company |
Company |
Company |
|
Audited
Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial
Type |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
USD |
USD |
|
TURNOVER |
49,684,538 |
38,335,473 |
49,435,893 |
19,853,563 |
28,151,214 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
49,684,538 |
38,335,473 |
49,435,893 |
19,853,563 |
28,151,214 |
|
Costs
of Goods Sold |
(31,634,217) |
(24,546,855) |
(36,217,985) |
(13,785,705) |
(23,734,946) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
18,050,321 |
13,788,618 |
13,217,908 |
6,067,858 |
4,416,268 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
1,826,897 |
51,595 |
1,588,692 |
618,623 |
1,435,503 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
1,826,897 |
51,595 |
1,588,692 |
618,623 |
1,435,503 |
|
Taxation |
(266,751) |
(15,141) |
(226,349) |
16,547 |
(244,036) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
1,560,146 |
36,454 |
1,362,343 |
635,170 |
1,191,467 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As
previously reported |
3,364,768 |
3,328,314 |
2,615,971 |
1,980,801 |
789,334 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
3,364,768 |
3,328,314 |
2,615,971 |
1,980,801 |
789,334 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
4,924,914 |
3,364,768 |
3,978,314 |
2,615,971 |
1,980,801 |
|
DIVIDENDS
- Ordinary (paid & proposed) |
- |
- |
(650,000) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
4,924,914 |
3,364,768 |
3,328,314 |
2,615,971 |
1,980,801 |
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE SHEET
|
|
WIPRO
GE HEALTHCARE PRIVATE LIMITED BRANCH OFFICE |
|
Others |
10,080,824 |
8,815,358 |
7,594,808 |
7,219,061 |
7,778,588 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG
TERM INVESTMENTS/OTHER ASSETS |
10,080,824 |
8,815,358 |
7,594,808 |
7,219,061 |
7,778,588 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
10,080,824 |
8,815,358 |
7,594,808 |
7,219,061 |
7,778,588 |
|
Stocks |
1,142,552 |
2,279,001 |
441,665 |
479,433 |
1,280,212 |
|
Trade
debtors |
12,382,092 |
10,159,430 |
13,502,970 |
6,660,355 |
9,158,103 |
|
Other
debtors, deposits & prepayments |
5,359,320 |
3,005,115 |
3,488,034 |
3,094,135 |
2,893,682 |
|
Amount
due from related companies |
62,840 |
- |
- |
- |
- |
|
Cash
& bank balances |
12,128,350 |
4,675,267 |
9,679,736 |
3,933,324 |
1,281,952 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
31,075,154 |
20,118,813 |
27,112,405 |
14,167,247 |
14,613,949 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
41,155,978 |
28,934,171 |
34,707,213 |
21,386,308 |
22,392,537 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade
creditors |
2,681,316 |
971,313 |
269,166 |
78,473 |
33,273 |
|
Other
creditors & accruals |
28,000 |
26,900 |
26,900 |
26,900 |
25,940 |
|
Deposits
from customers |
857,467 |
44,968 |
- |
88,010 |
- |
|
Amounts
owing to related companies |
6,150,040 |
6,474,698 |
11,384,469 |
4,720,819 |
5,779,356 |
|
Provision
for taxation |
293,633 |
8,771 |
278,996 |
259,746 |
277,400 |
|
Other
liabilities |
5,359,320 |
3,005,115 |
3,488,034 |
3,094,135 |
4,151,333 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT
LIABILITIES |
15,369,776 |
10,531,765 |
15,447,565 |
8,268,083 |
10,267,302 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
15,705,378 |
9,587,048 |
11,664,840 |
5,899,164 |
4,346,647 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
25,786,202 |
18,402,406 |
19,259,648 |
13,118,225 |
12,125,235 |
|
============= |
============= |
============= |
============= |
============= |
|
|
HEAD
OFFICE ACCOUNT |
10,780,464 |
6,222,280 |
8,336,526 |
3,283,193 |
2,365,873 |
|
Retained
profit/(loss) carried forward |
4,924,914 |
3,364,768 |
3,328,314 |
2,615,971 |
1,980,801 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
4,924,914 |
3,364,768 |
3,328,314 |
2,615,971 |
1,980,801 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
15,705,378 |
9,587,048 |
11,664,840 |
5,899,164 |
4,346,674 |
|
Deferred
taxation |
- |
- |
- |
- |
7,778,561 |
|
Others |
10,080,824 |
8,815,358 |
7,594,808 |
7,219,061 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
10,080,824 |
8,815,358 |
7,594,808 |
7,219,061 |
7,778,561 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
25,786,202 |
18,402,406 |
19,259,648 |
13,118,225 |
12,125,235 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL RATIO
|
|
WIPRO GE
HEALTHCARE PRIVATE LIMITED BRANCH OFFICE |
|
TYPES
OF FUNDS |
|||||
|
Cash |
12,128,350 |
4,675,267 |
9,679,736 |
3,933,324 |
1,281,952 |
|
Net
Liquid Funds |
12,128,350 |
4,675,267 |
9,679,736 |
3,933,324 |
1,281,952 |
|
Net
Liquid Assets |
14,562,826 |
7,308,047 |
11,223,175 |
5,419,731 |
3,066,435 |
|
Net
Current Assets/(Liabilities) |
15,705,378 |
9,587,048 |
11,664,840 |
5,899,164 |
4,346,647 |
|
Net
Tangible Assets |
25,786,202 |
18,402,406 |
19,259,648 |
13,118,225 |
12,125,235 |
|
Net Monetary
Assets |
4,482,002 |
(1,507,311) |
3,628,367 |
(1,799,330) |
(4,712,126) |
|
PROFIT
& LOSS ITEMS |
|||||
|
Earnings
Before Interest & Tax (EBIT) |
0 |
0 |
1,588,692 |
618,623 |
1,435,503 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
1,826,897 |
51,595 |
1,588,692 |
618,623 |
1,435,503 |
|
BALANCE
SHEET ITEMS |
|||||
|
Total
Borrowings |
0 |
0 |
0 |
0 |
0 |
|
Total
Liabilities |
25,450,600 |
19,347,123 |
23,042,373 |
15,487,144 |
18,045,863 |
|
Total
Assets |
41,155,978 |
28,934,171 |
34,707,213 |
21,386,308 |
22,392,537 |
|
Net
Assets |
25,786,202 |
18,402,406 |
19,259,648 |
13,118,225 |
12,125,235 |
|
Net
Assets Backing |
15,705,378 |
9,587,048 |
11,664,840 |
5,899,164 |
4,346,674 |
|
Shareholders'
Funds |
15,705,378 |
9,587,048 |
11,664,840 |
5,899,164 |
4,346,674 |
|
Total
Share Capital |
0 |
0 |
0 |
0 |
0 |
|
Total
Reserves |
4,924,914 |
3,364,768 |
3,328,314 |
2,615,971 |
1,980,801 |
|
GROWTH
RATIOS (Year on Year) |
|||||
|
Revenue |
29.60 |
(22.45) |
149.00 |
(29.48) |
(0.61) |
|
Proft/(Loss)
Before Tax |
3,440.84 |
(96.75) |
156.81 |
(56.91) |
6,268.13 |
|
Proft/(Loss)
After Tax |
4,179.77 |
(97.32) |
114.48 |
(46.69) |
6,268.08 |
|
Total
Assets |
18.58 |
(16.63) |
62.29 |
(4.49) |
17.76 |
|
Total
Liabilities |
10.45 |
(16.04) |
48.78 |
(14.18) |
28.83 |
|
LIQUIDITY
(Times) |
|||||
|
Cash
Ratio |
0.79 |
0.44 |
0.63 |
0.48 |
0.12 |
|
Liquid
Ratio |
1.95 |
1.69 |
1.73 |
1.66 |
1.30 |
|
Current
Ratio |
2.02 |
1.91 |
1.76 |
1.71 |
1.42 |
|
WORKING
CAPITAL CONTROL (Days) |
|||||
|
Stock
Ratio |
8 |
22 |
3 |
9 |
17 |
|
Debtors
Ratio |
91 |
97 |
100 |
122 |
119 |
|
Creditors
Ratio |
31 |
14 |
3 |
2 |
1 |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Gearing
Ratio |
0 |
0 |
0 |
0 |
0 |
|
Liabilities
Ratio |
1.62 |
2.02 |
1.98 |
2.63 |
4.15 |
|
Times
Interest Earned Ratio |
0 |
0 |
0 |
0 |
0 |
|
Assets
Backing Ratio |
- |
- |
- |
- |
- |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating
Profit Margin |
3.68 |
0.13 |
3.21 |
3.12 |
5.10 |
|
Net
Profit Margin |
3.14 |
0.10 |
2.76 |
3.20 |
4.23 |
|
Return
On Net Assets |
7.08 |
0.28 |
8.25 |
4.72 |
11.84 |
|
Return
On Capital Employed |
7.08 |
0.28 |
8.25 |
4.72 |
11.84 |
|
Return
On Shareholders' Funds/Equity |
9.93 |
0.38 |
11.68 |
10.77 |
27.41 |
|
Dividend
Pay Out Ratio (Times) |
0 |
0 |
0.48 |
0 |
0 |
|
NOTES
TO ACCOUNTS |
|||||
|
Contingent
Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.53 |
|
|
1 |
INR 86.05 |
|
Euro |
1 |
INR 76.53 |
|
SGD |
1 |
INR 48.02 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
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.